Allcargo Logistics shares fall 8% on Q3 earnings, check details

Shares of Allcargo Logistics Ltd tumbled nearly 8% today after the firm reported a 88% fall in Q3 net profit. Profit plunged 88 per cent year-on-year (YoY) to Rs 17 crore in the December 2023 quarter from Rs 146 crore in the corresponding quarter last year. Revenue from operations fell 22 per cent to Rs 3,212 crore from Rs 4,127 crore, said Allcargo Logistics.

Allcargo Logistics stock declined 7.64% to Rs 69.85 against the previous close of Rs 75.64 on BSE.

Meanwhile, market cap of Allcargo Logistics fell to Rs 7,208 crore. At 1:59 pm, Allcargo Logistics stock was trading 3% lower at Rs 73.35 on BSE.

The stock has lost 27.60 per cent in one year and fallen 11.24 per cent in 2024.

Also read: Allcargo Logistics shares in focus as Q3 profit falls 88%

Allcargo Logistics stock is trading neither in the oversold nor in the overbought territory as the relative strength index (RSI) of Allcargo Logistics stands at 40.3.

Allcargo Logistics shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day and higher than the 100 day, 150 day and 200 day moving averages. A total of 1.93 lakh shares of the firm changed hands, amounting to a turnover of Rs 1.38 crore on BSE.

The stock hit a 52-week high of Rs 104.59 on  February 13, 2023 and fell to a 52 week low of Rs 61.50 on October 26, 2023.

The company said significant losses incurred in select markets of  US and Germany impacted the Q3 financial performance. Both offices are expected to perform better during 2024, leading to a positive impact on consolidated EBITDA.

Allcargo Logistics is a leading multinational company engaged in providing integrated logistics solutions and offers specialised logistics services across multimodal transport operations, inland container depot and container freight station operations.

 

 

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