VRL Logistics at new high
VRL Logistics declared its Q2FY22 earnings on 1st Nov and the market continues to react even 8 days later. The stock, which had closed on Wednesday at Rs.438.80, went on to hit a new high today at Rs,483.95.
The company’s net profit rose 60% (YoY) to Rs.410 crore on a 45% rise in revenue from sales at Rs.637 crore.
EBITDA was up 29% at Rs.115 crore while margins showed a dip from 20.25% to 18.03%.
The company said that overall demand picked up in the second quarter and business growth was back to pre-pandemic levels. Inspite of the difficulties faced, the impact on business was lesser than the first wave witnessed last year, as supply chains were well evolved enough to cope with localized and staggered lockdowns.
The company is pre-dominantly parcel delivery service provider (90% of total Revenue for FY21) with pan–India last mile connectivity operating through a fleet of 4687 owned Goods transport vehicles complemented by third party hired vehicles on need basis.