Shreeji Translogistics (STL) rose 3.17% to Rs 336.40 after the company said that it added United Parcel Service (UPS) as its client in the bonded trucking division.
UPS is a US-based multinational logistics company. STL will provide bonded trucking services for transhipment of import and export cargo of UPS. The services will be currently provided in the entire southern region of India wherein UPS is presently operating one daily flight."This association is now a month old and is progressing on expected line while providing ample growth opportunities for STL," the company said in a statement.
Commenting on the announcement, the management team of Shreeji Translogistics, stated that this association is expected to yield an annual revenue of approximately Rs 25-30 million.
Navi Mumbai-based STL is engaged in freight management, logistic solutions and warehousing services. It caters a range of logistical requirements from import-export container movement to bonded trucking movements.
On a consolidated basis, net profit of Shreeji Translogistics rose 69.23% to Rs 2.64 crore on 42.37% rise in net sales to Rs 46.54 crore in Q1 June 2022 over Q1 June 2021.
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