1,190% return in 3 years: This logistics stock zooms 15% after Q2 profit doubles

Shares of logistics solution provider Shreeji Translogistics are in focus as they zoomed more than 15 per cent in early morning deals. The BSE-listed stock opened at Rs 69 with a gain of 4.66 per cent and went on to hit an intraday high of Rs 76.35, up 15.8 per cent.

Last seen, the logistics stock remained firmly in the green, trading at Rs 70.50 apiece. It also outperformed the sector by 6.71 per cent.  

The rally came after the company announced its quarterly earnings for the July to September period of the current financial year 2023-24. The firm said that its net profit more than doubled to Rs 4.89 crore. It had posted Rs 2.36 crore in net profit during the year-ago period.

The net sales in the September 2023 quarter stood at Rs 65.17 crore, up 53.36 per cent from Rs 42.49 crore in September 2022. Its EBITDA came in at Rs 8.24 crore, up 80.7 per cent from Rs. 4.56 crore that it had reported in the year-ago quarter.

Shreeji Translogistics shares have given 13.60 per cent returns over the last 6 months. It has yielded 647 per cent returns in two years and 1,190 per cent returns in three years.

Shreeji Translogistics Limited is an integrated national logistical solution provider. It is engaged in freight management, logistic solutions and warehousing services. The firm operates through road, rail, air and waterways.