Aegis Logistics hits record high as Q2 profit more than doubles

The stock hit a record high of Rs 275, up 7% on the BSE in intra-day trade

Aegis Logistics hit a record high of Rs 275, up 7% on the BSE in intra-day trade, after the company reported a more than doubled net profit at Rs 52 crore in September quarter, on back of strong revenue growth.

The company, a leading provider of logistics and supply chain services to India’s oil, gas and chemical industry, had profit of Rs 25 crore in year ago quarter.

Revenue from the operations during the quarter under review grew 84% at Rs 1,241 crore against Rs 676 crore in the corresponding quarter of previous fiscal.

At 12:18 PM; the stock was up 6% at Rs 270 as compared to 0.23% rise in the S&P BSE Sensex. A combined 806,380 shares changed hands on the counter on the BSE and NSE so far.

In past one year, the stock outperformed the market by gaining 86% as compared to 25% rise in the S&P BSE Sensex.