Shares of this logistics company jumped 2 percent in Monday’s trading session after receiving a tender from Hindustan Petroleum Corporation Limited for Logistics Services. The shares have delivered more than 50 percent of returns to its shareholders in one year.
With a market capitalisation of Rs. 765 crores, Tiger Logistics (India) Ltd shares started Monday’s trading session on a higher note at Rs. 715.60 compared to its previous close of Rs. 711.30. The shares hit a high of Rs. 734, gaining around 2 percent and are currently trading at Rs. 718 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced that they had secured a government tender from Hindustan Petroleum Corporation Ltd, with this tender the company would be entering into the petro segment.
Furthermore, the company mentioned that this accomplishment position will help them to explore further opportunities in the petro sector, allowing it to broaden and strengthen its presence in the logistics business.
Digging into the company’s financial statement, the revenue increased by 28 percent from Rs. 42.02 crores during the June quarter to Rs. 53.58 crores in the September quarter. In addition, the net profits zoomed by 53 percent from Rs. 2.10 crores to Rs. 3.22 crores during the same timeframe.
During the last quarter, the company has strengthened its position in government projects and secured contracts from prestigious organizations. Moreover, Tiger Logistics plans to penetrate deeper into tier B-30 cities to increase the performance of its digital platform FreightJar.
The revenue mix of the company has shifted towards the auto sector, which is considered to be a consistent and growing sector for the company. Furthermore, commodities remain a filler business for Tiger Logistics, while the company has been focusing on higher-margin sectors like auto and electronics.
Headquartered in New Delhi, Tiger Logistics was incorporated in 2000. The company is a third-party logistics services provider. Its business covers international freight forwarding, supply chain management, project logistics, defence logistics, and cold chain logistics.
Written By Vaibhav Patil
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