The shares of market leaders in providing integrated solutions within road and rail cargo hit a 52-week high after the Company bagged a contract from Indian Railways worth Rs 150 crore.
With a market capitalization of Rs 398.48 Crores. Avg Logistics Ltd, On Tuesday, The shares were trading at Rs 338.00 a share, an increase of 5.66 percent from the previous closing price.
According to the company filing, Avg Logistics Ltd bagged a contract from Indian Railways worth Rs 150 crore for operations of Leased Parcel Express Train. For the next six years, this special train will run one round trip per week between Bangalore and Ludhiana, Punjab, for a total of 313 trips.
Apart from what has been mentioned above, the Express Service will complete the distance in about 72 hours, guaranteeing quick and easy connectivity between the key locations, The purpose of this contract is to boost business income while encouraging the team to take on more significant projects of a similar kind and enhancing our financial outcomes.
The organization runs a fleet of more than 3,000 owned and rented cars and 705,000 square feet of warehouse space in India to offer many value-added services.
With Indian Railways, Avg Logistics Ltd. has signed six tenders worth Rs. 5,100 million for six leased parcel trains. By March 2022, the company will have handled over 14 lac tonnes annually.
Looking into the company’s finances, AVG Logistics Ltd.’s revenue increased by 6 percent from Rs 110 Crore in Q2FY23 to Rs 117 Crore in Q2FY24. During the same period, net profit increased by 371 percent from Rs 0.99 crore to Rs 4.67 Crore.
Avg Logistics Ltd. maintains a pan-Indian presence through its extensive network of over fifty branches and seven zonal offices. The company also has nine transhipment hubs for LTL services.
AVG Logistics Ltd serves numerous local and international businesses by offering road transportation services, warehousing facilities, and railway transportation.
Written by:- Abhishek Singh
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