Chartered Logistics in the green

Chartered Logistics, at its Board Meeting held yesterday, stated that it has decided to explore for appointment of Top Audit Firm w.e.f. April 01, 2017.

During the quarter the Company had purchased 18 additional new trucks. Looking at the buoyancy of the business, the board has approved for buying up to 200 trucks in the next six months.

The company, as the name suggests, is into logistics, surface transport to be more specific. In September, the company had announced receipt of some very good orders. It is a total of 5 orders, summing up to Rs.34 crore. The biggest order of Rs.17 crore is from Vedanta to be executed in 6 months; Rs.4.25 crore from Kalpataru Power to be completed in 6 months; Rs.8 crore from India Synthetic Rubber to be completed in one year; Rs.2 crore from GSFC and Rs.2.5 crore from GNFC – both to be executed in one year.

It ended Q2FY17 with a net profit of Rs.4 crore v/s Rs.2.5 crore (YoY), with H1FY17 net profit of Rs.7 crore already surpassing FY16 net profit at Rs.6 crore.

The stock is up 3% at Rs.23 levels with its 52-week high at Rs.28.