This Logistics Firm Hits Upper Circuit In Intra-Day Trade On Strong Q1Fy23 Performance

Shares of small cap company into logistics services - Orissa Bengal Carrier in intra-day trade on August 5, 2022 hit 20% upper circuit of Rs. 130.7. Last at the time of writing this copy at around 3 pm, its shares erased some gains and traded higher by over 12% at Rs. 122.5 per share on the NSE.

This Logistics Firm Hits Upper Circuit In Intra-Day Trade On Strong Q1Fy23 Performance

The sharp spike in the company's share price is on the back of robust show in the first quarter of Fy23. The company logged a 43% increase in net profit to Rs. 3.13 crore during the period under review. Last year, the net profit at the company during the same quarter stood at Rs. 2.19 crore.

The company's operational revenue logged a marginal increase, roughly around 5% to Rs. 90.65 crore during the period under review in comparison to revenue of Rs. 86.45 crore during the same period a year-ago.

In the previous March ended quarter, the company posted PAT of Rs. 2.93 crore with a revenue from operations of Rs. 85.63 crore.

Orissa Bengal Carrier Limited is an India-based company that is engaged in transportation activities. The Company serves to a range of industries, including the steel, coal, aluminum, cement, petrochemicals, paper, marble, tiles, infra, textile and FMCG.