VRL Logistics gains as Q4 profit more than doubles

The stock was up 3% at Rs 306 and hit a new high of Rs 310, since its listing on April 30, on the NSE in intra-day trade.

Shares of VRL Logistics were trading higher by 3% at Rs 306 on the NSE after reporting more than two-fold jump in its standalone net profit at Rs 19.37 crore for the fourth quarter ended March 31, 2015 (Q4). A parcel delivery firm had profit of Rs 8.40 crore in the same quarter last year.

Total income from operations during the quarter rose to Rs 397 crore against Rs 367 crore in the corresponding quarter of previous fiscal.

EBITDA or operating profit margins expanded by nearly 200 basis points to 14.84% from 12.92%.

The stock opened at Rs 305 and hit a new high of Rs 310, since its listing on April 30, on the NSE. A combined 1.59 million shares changed hands on the counter on the NSE and BSE.