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Share price of a company in the business of air freight and logistics, hit a new all-time high at Rs. 26.50 on February 7th, after the company announced its financial results for Q3 FY23-24. 

With a market cap of Rs. 171.15 crore, Patel Integrated Logistics Ltd. is currently trading at Rs. 26.50, up by 19.91 percent, compared to its previous closing price of Rs. 22.10. 

The company has delivered nearly 51.0 percent returns in the last six months, whereas it has given over 97.0 percent in the last one year. So far, it has given positive returns of around 27.40 percent in 2024. 

The fluctuations in the share prices were observed after the company announced its financial results on Tuesday, for the third quarter and nine months ended 31st December 2023, through a recent filing with the stock exchanges. 

The net profit of the company increased by nearly 11.2 percent on a QoQ basis from Rs. 1.34 crore in Q2 FY23-24 to Rs. 1.49 crore in Q3 FY23-24. On a year-on-year basis, the net profit increased by around 27.35 percent to Rs. 1.49 crore in Q3 FY23-24 from Rs. 1.17 crore in Q3 FY22-23. 

The company’s revenue from operations grew by nearly 25.6 percent on a year-on-year basis from Rs. 61.15 crore in Q3 FY22-23 to Rs. 76.81 crore in Q3 FY23-24. On a quarterly basis, the revenue from operations of the company moved up by 14.9 percent from Rs. 66.85 crore in Q2 FY23-24 to Rs. 76.81 crore in Q3 FY23-24. 

As of December 2023, the FIIs hold 0.03 percent of the shares, whereas the Government holds 0.62 percent of the shares in the company. The Promoters’ holdings reduced by 0.46 percent from 37.31 percent in Q2 FY23-24 to 36.85 percent in Q3 FY23-24. 

Established in 1959, Patel Integrated Logistics Ltd. is one of the largest surface logistics and road transportation companies in Asia. 

The company is in the business of logistics services and offers a complete range of logistics products including business activities like surface transport, warehousing, and air cargo consolidation, among others. 

Written by Shivani Singh

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