India's VRL Logistics down as June-qtr profit falls

VRL Logistics

07/08/2023 09:33

** Shares of VRL Logistics  VRLL.NS  down as much as 6.1% at
675.1 rupees; logs biggest intraday pct loss since June 2
    ** Logistics services provider reported a 31.2% fall in
profit at 339.5 mln rupees ($4.11 million) Y/Y
    ** Total expenses rose 12% to 6.37 bln rupees; freight,
handling and servicing cost rose 8.2% to 4.51 bln rupees 
    ** Trading volume is 292,185 shares as of 1:55 p.m. IST, 3.5
times the 30-day avg - Refinitiv data
    ** Of the eight analysts tracking VRLL, seven maintain "buy"
and higher, one suggests "hold"; median TP is 825 rupees -
Refinitiv 

($1 = 82.7020 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))