Shares of the Mumbai-based logistics company Allcargo Logistics were locked in 20 per cent upper circuit at Rs 328.95 after it reported September quarter earnings. Allcargo Logistics reported consolidated net profit of Rs 263.39 crore in second quarter of the current financial year compared with Rs 58 crore during the same period last year, marking an increase of 4.5 times of 354 per cent.Its revenue from operations jumped 113 per cent to Rs 4,977.86 crore versus Rs 2,336.58 crore in the year ago period. Its earnings before interest, taxes, depreciation and amortization (EBITDA) or operating profit more than doubled to Rs 363 crore.The international supply chain business (MTO segment) witnessed sustained growth on the back of volume growth and expansion in market share in favorable market conditions, Allcargo Logistics said in a regulatory filing.”The company is proud of its leadership and the collective vision and commitment, which has allowed us to record historic performance in this quarter. The sharp focus on transformation and digital initiatives is reinvigorating the entire team to work with a start-up mindset, while benefiting from capabilities built over decades. We shall continue to work with our asset light approach and deliver value to our stakeholders with continued growth and profitability,” said Shashi Kiran Shetty, Chairman, Allcargo Logistics.As of 1:52 pm, there were 79,735 pending buy orders for Allcargo Logistics shares on the BSE while no sellers on the exchange.
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