Allcargo Global Logistics Ltd Q1 net up to Rs.17.11 Crores

Allcargo Global Logistics Ltd has announced the following Un-Audited results for the quarter ended June 30, 2007.

The Company has posted a net profit after tax of Rs.171.13 million for the quarter ended June 30, 2007 where as the same was at Rs.123.17 million for the quarter ended June 30, 2006. Total Income is Rs.821.04 million for the quarter ended June 30, 2007 where as the same was at Rs.712.74 million for the quarter ended June 30, 2006.

The company has reported an Earnings Per Share (EPS) of Rs.8.45 for the quarter ended June 30, 2007 compared to Rs.6.64 during quarter ended June 30, 2006.

The Board of Directors at the same meeting has declared interim dividend of Rs 2/- per equity share (i.e. 20% on face value of Rs 10/- per equity share).

The Company raised Rs 1403.33 million through IPO and as on June 30, 2007, the amount utilised as per the "Objects to the Issue" is Rs 1344.19 million and the balance amount of Rs 59.14 million has been invested pending utilisation, as per the "Objects to the Issue", as amended by the Company vide its approval at the Extra-ordinary General Meeting held on January 05, 2007, inter alia to include acquisition of land and setting up of Container Freight Stations / Inland Container Depots and other similar projects thereon at various other locations in India.

In July 2007, the Company sold and transferred 30,500 ordinary shares from its direct holding of 80,272 ordinary shares in ECU Hold N.V., a Belgium based NVOCC company to Company´s wholly-owned subsidiary in Belgium namely, Allcargo Belgium N.V. for cash consideration.

The stock closed the day at Rs.976.20, down by Rs.47.70 or 4.66%. The total traded quantity was 4385 compared to 2 week average of 12055. The stock hit an intraday high of Rs.1048 and low of Rs.960.10.

Source : Equity Bulls

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