Allcargo Logistics rallies after LCL volumes rises 6% in July'24

Allcargo Logistics jumped 9.04% to Rs 67.08 after the company's LCL volume for the month of July 2024 stood at 818 lakh cubic meters (Cbm), registering the growthof 6% as compared with 773 lakh CbM in the month of June 2024.

Volumes have steadily increased on the back of improved global trade and companys growth initiatives. The company expects the momentum to remain through the year.

On the back of volumes, freight rates are also anticipated to stay high until the end of peak season.

Container utilization improved utilization is on the back of increase in volumes. The container Utilization index stood at 106 in July 2024 as against 100 in August 2023.

 

The 40 feet container usage improved on account of increased volume. The 40 feet container usage index stood at 110 in July 2024 as against 100 in August 2023.

FCL operations remained flat at 54 lakh twenty-foot equivalent units (TEUs) for the month of July 2024 as compared with previous month, FCL volumes have been overall flat with marginal declines in China, Vietnam and Mexico and increase in India, Turkey and UAE.

Allcargo Logistics is an integrated logistics service provider and operates in multiple business segments multimodal transport operation (MTO), container freight station (CFS) / inland container depot (ICD), projects and engineering (P&E), contract logistics, and logistics parks (LPs) in which it has forayed recently.

The companys consolidated net profit declined 95.6% to Rs 5.37 crore in Q1 FY25 as compared with Rs 122.57 crore in Q1 FY24. Net sales jumped 16.6% YoY to Rs 3812.81 crore in Q1 FY25.

Powered by Capital Market - Live News