Lancer Container Lines Q2 net profit jumps over two-fold to Rs 16 cr

Lancer Container Lines has posted over two-fold jump in its consolidated net profit to about Rs 16 crore during the September quarter, mainly on account of higher income.

The company had clocked a net profit of Rs 6.01 crore in the July-September period of the preceding fiscal, it said in a statement on Wednesday.

On a quarter-on-quarter (q-o-q) basis, the company's net profit rose over 19 per cent against Rs 13.29 crore.

During July-September 2022, its total income rose to Rs 229.24 crore from Rs 137.14 crore in the year-ago quarter.

For the half year ended September 2022, the net profit increased to Rs 29.15 crore from Rs 8.98 crore a year ago.

Lancer Container Lines Ltd recently entered into a memorandum of understanding (MoU) with The African Peace and Security Union to establish a strong presence in the African region.

The Mumbai-based company is one of the leading integrated logistics solution providers in India.