Allcargo stacks well

Allcargo Logistics is stacking up pretty well today with the stock opening higher at Rs.144 and the stock remains higher around the same intra day high levels , up 4%.

The company posted a very good set of numbers for Q3FY14 with consolidated net profit soaring up over 58% (YoY) at Rs.57 crore on a very encouraging 56% rise in total income at Rs.1516 crore. All its three divisions – multimodal transport, container and freight station and project and engineering solutions have done well. The bread winner remains multimodal transport, contributing 91% to the total income earned and it showed a 63% jump in topline and EBIT rose 24%. Project and engineering solutions recorded a 20% rise in topline and EBIT spurted up to Rs.15 crore from a loss of Rs.16 crore in Q3FY13 mainly on account of gains realized on cancellation of derivatives taken to hedge liabilities. Container and freight station reported a 9% jump in topline and EBIT came in lower by 4%.

The market is enthused with the overall numbers and going ahead, expects things to pick up further.