Allcargo Gati gains on healthy Q3 profit

Allcargo Gati reported a net profit of Rs 18.8 crore against a loss of Rs 4.7 crore in the year-ago period

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The Allcargo Gati stock was trading around 1.2 percent higher on February 5 morning after company reported a consolidated net profit at Rs 18.8 crore in the December quarter.

At 9.30 am, the stock was trading at Rs 125.30 on National Stock Exchange. Over the last year, the stock has fallen around 8 percent.

In a regulatory filing on February 2, Allcargo Gati reported a net profit of Rs 18.8 crore against a loss of Rs 4.7 crore in the year-ago period.

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Revenue fell 3.8 percent year-on-year to Rs 424.5 crore. EBITDA came in at Rs 21 crore in the third quarter ar Rs 7 crore for Q2FY24.

“We have been clocking approx. 100K tons of volume on a monthly basis consistently. This is a testament of our improved service performance and sales acceleration initiatives,” GESCPL managing director and chief executive officer Pirojshaw Sarkari said in a post earnings release.

Also read: Allcargo goes for another restructuring: Here’s how it’s beneficial for shareholders

Allcargo Gati is a part of Allcargo Group and offers end-to-end integrated logistics with services across verticals such as International Supply Chain, Contract Logistics, Logistics Parks etc.

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