Share prices of a company engaged in the business of providing logistics services and warehousing facilities moved up by 9 percent at Rs. 273.90 on Monday, compared to its previous closing price of Rs. 251.25, after the company announced its financial results for Q3 FY23-24.
With a market cap of Rs. 640.18 crore, the share price of Ritco Logistics Ltd. opened at Rs. 255.05 on February 5th. The company has delivered nearly 1.3 percent returns in the last six months, whereas it has given more than 82.0 percent in the last one year. So far, it has given negative returns of around 2.3 percent in 2024.
The fluctuations in the share prices were observed after the company announced its financial results on Friday, 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 5.23 percent on a QoQ basis from Rs. 8.21 crore in Q2 FY23-24 to Rs. 8.64 crore in Q3 FY23-24.
On a year-on-year basis, the net profit increased by 34.16 percent to Rs. 8.64 crore in Q3 FY23-24 from Rs. 6.44 crore in Q3 FY22-23.
The company’s revenue from operations increased by nearly 22.78 percent on a year-on-year basis from Rs. 194.58 crore in Q3 FY22-23 to Rs. 238.92 crore in Q3 FY23-24.
On a quarterly basis, the revenue from operations of the company grew by 1.82 percent from Rs. 234.64 crore in Q2 FY23-24 to Rs. 238.92 crore in Q3 FY23-24.
As of December 2023, FIIs hold 0.03 percent of the shares in the company and the Promoters’ holdings remain unchanged at 73.04 percent.
During FY23-24, Ritco Logistics completed the acquisition of Logro Sourcing Private Limited, the parent company of Trucksup Solutions Private Limited.
Established in 1986, Ritco is India’s one of the leading integrated supply chain and logistics solutions providers.
Written by Shivani Singh
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