Tiger Logistics soars after being empaneled by HPCL for logistics services

Tiger Logistics (India) jumped 7.57% to Rs 70.05 after the company announced that it has been empanelled by Hindustan Petroleum Corporation (HPCL) for providing logistic services.

The company would support HPCLs critical freight and customs handling operations, ensuring smooth processes for imports and exports.

It would provide comprehensive air & sea freight solutions, including end-to-end clearing and forwarding services tailored to meet HPCL's operational demands. The financial limit for the said contract is Rs 5.46 crore and the tenure of the same is three years, with provisions for renewal based on performance and service excellence.

Harpreet Singh Malhotra, CMD of Tiger Logistics (India), said: We are honoured to be empaneled by HPCL, a respected public sector organisation. This recognition underscores our commitment to delivering high-quality logistics services and solidifies our leadership in the industry.

 

Tiger Logistics is focused on becoming the preferred logistics partner for government agencies and PSUs, and we sincerely appreciate the trust and support of our partners as we work toward a successful future together.

Earlier this year, Tiger Logistics renewed collaborations with BHEL, BEML, and BNPLIPL, further strengthening its expertise in air and sea cargo operations. It includes a warehousing contract with BHEL and various logistics projects for AAI and HAL.

Tiger Logistics (India) is a multi-vertical logistics solution provider. It undertakes both in-bound and out-bound logistics solutions. The company has its focus on ocean freight forwarding segment and derives its major revenue from import/export related transportations.

The company's net profit surged to Rs 7.54 crore in the quarter ended September 2024 as against Rs 3.22 crore during the previous quarter ended September 2023. Sales rose 198.94% to Rs 160.17 crore in Q2 FY25 from Rs 53.58 crore in Q2 FY24.

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