This smallcap logistics firm zooms 17% after strong show in June quarter

This smallcap logistics firm zooms 17% after strong show in June quarter

New Delhi: Shares of Orissa Bengal Carrier zoomed as much as 17 per cent during the early trade on Friday after the company reported a strong performance in the June 2022 quarter.

The smallcap logistics company reported a 43 per cent rise in the net profit to Rs 3.13 crore in the quarter ended June 30, 2022 compared to a bottomline of Rs 2.19 crore in the same quarter previous year.

Following the development, shares of Orissa Bengal Carrier surged 17 per cent to Rs 126.65 in morning trade. The scrip had settled at Rs 108.70 on Thursday.

Its operational revenue increased marginally, roughly about 5 per cent, to Rs 90.65 crore in the April-June 2022 period as against a revenue of Rs 86.45 crore in the year ago period.

The company had reported a profit after tax (PAT) of Rs 2.93 crore with a revenue from operations at Rs 85.65 crore in the preceding quarter (Q4FY22).

The Raipur-headquartered firm has more than 112 fleets and 40 branches across India. The company provides industry focused solutions integrated with an asset light business model.

Orissa Bengal Carrier is a logistics firm having full truck load (FTL) and third party logistics services with experience of more than three decades, dealing with multiple industries.