Allcargo net profit zooms 58% to Rs 57.02 crore
The company, which gets 87 per cent of its revenue from international markets, said it is not looking at anymore acquisitions at the moment.
By Megha Mandavia, ET Bureau | Updated:
MUMBAI: Allcargo Logistics reported a consolidated net profit of Rs. 57.02 crore, up 58 per cent for the quarter ended December, against Rs. 36.08 crore during the corresponding quarter.
The company, which offers multimodal transport operations, container freight stations and project & engineering solutions, said total revenue from operations grew 56 per cent to Rs. 1,516.41 crore during the quarter, helped by recent acquisitions.
The company acquired two companies – U.S.-based Econocaribe Consolidators for $50 million and Netherlands-based FCL Marine Rotterdam an undisclosed amount in the last six months.
“Allcargo saw revenue growth across all verticals. The container freight station business, which saw de-growth earlier, is also now seeing a pick-up in volume,” said S. Suryanarayanan, director – finance at Allcargo said.
The company, which gets 87 per cent of its revenue from international markets, said it is not looking at anymore acquisitions at the moment.
Shares of the company closed up 1 per cent at Rs. 133.35 on Friday on BSE. They have gained 32 per cent in value in the last three months.
The company, which offers multimodal transport operations, container freight stations and project & engineering solutions, said total revenue from operations grew 56 per cent to Rs. 1,516.41 crore during the quarter, helped by recent acquisitions.
The company acquired two companies – U.S.-based Econocaribe Consolidators for $50 million and Netherlands-based FCL Marine Rotterdam an undisclosed amount in the last six months.
“Allcargo saw revenue growth across all verticals. The container freight station business, which saw de-growth earlier, is also now seeing a pick-up in volume,” said S. Suryanarayanan, director – finance at Allcargo said.
The company, which gets 87 per cent of its revenue from international markets, said it is not looking at anymore acquisitions at the moment.
Shares of the company closed up 1 per cent at Rs. 133.35 on Friday on BSE. They have gained 32 per cent in value in the last three months.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
