Allcargo Logistics shares down nearly 3% post Q1 results

Shares of Allcargo Logistics today fell nearly 3 per cent after the company reported an 8 per cent decline in consolidated net profit for the quarter ended June 30.

The scrip went down by 2.92 per cent to end at Rs 189.60 on BSE. Intra-day, it tumbled 6.52 per cent to Rs 182.55.

At NSE, shares of the company fell 2.83 per cent to close at Rs 190.15.

Allcargo Logistics today reported an 8 per cent decline in consolidated net profit at Rs 61.02 crore for the quarter ended June 30.

The firm had clocked a net profit of Rs 66.55 crore in the first quarter of the previous fiscal, it said in a regulatory filing.
 

The decline in PAT was "a result of impact of deferred tax and MAT credit reversal in Q1 FY16," the company said in a statement.

Total consolidated income fell to Rs 1,398.92 crore as against Rs 1,465.24 crore in the same quarter in 2015-16.