India's VRL Logistics up 7% on surge in fourth-quarter profit

VRL Logistics

22/05/2023 10:06

** Shares of VRL Logistics Ltd  VRLL.NS  rise as much as
7.48% to a 10-month high of 707 rupees
    Logistics services provider reports three-fold jump in
profit that more than triples to 1.93 bln rupees from 561.88 mln
rupees  Y/Y
    ** Revenue from operations up 18% Y/Y to 6.98 bln rupees
    ** Higher volume aided revenue growth, says Motilal Oswal
Financial Services; adds, strong operating performance and lower
tax outgo supported profit growth
    ** Trading volume is 616,820 shares as of 1:38 p.m. IST, six
times the 30-day avg - Refinitiv data
    ** Of the eight analysts tracking VRLL, seven maintain "buy"
and one suggests "hold"; median TP is 727.50 rupees 
    

     ($1 = 81.7800 Indian rupees)
    
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))