Chartered Logistics
Chartered Logistics, as the name suggests, is into logistics, surface transport to be more specific. In September, the company had announced receipt of some very good orders. It is a total of 5 orders, summing up to Rs.34 crore. The biggest order of Rs.17 crore is from Vedanta to be executed in 6 months; Rs.4.25 crore from Kalpataru Power to be completed in 6 months; Rs.8 crore from India Synthetic Rubber to be completed in one year; Rs.2 crore from GSFC and Rs.2.5 crore from GNFC – both to be executed in one year. And now, on 2nd Jan to be more specific, it got two orders worth Rs.36.15 crore from GAIL.
The company took the mantle of being the first to declare its Q3FY17 performance today. Thanks to the 13% (YoY) drop in costs, the company made up for the 2.5% drop in revenue at Rs.38 crore. Interest outgo was marginally down by 4%. It ended the quarter with a net profit at Rs.4 crore, up 33% (YoY) and up 8% on a sequential basis. Its equity is at Rs.9.93 crore and reserves at Rs.22 crore. Annualised EPS is at Rs.1.50 (FV of Re.1).
For the 9MFY17, the company’s net profit came in at Rs.11 crore, which is almost double that of FY16 net profit of Rs.6 crore; clearly FY17 will be a bumper year.