Allcargo Logistics has acquired two additional vessels aggregating 24,000 DWT for its coastal shipping business. Post this acquisition, the company now owns a total of 5 cargo vessels making it one of the largest players in the logistics industry. The key reason for this acquisition was to cater to the growing demand not only of coastal shipping but regional trade and commerce as well.
Meanwhile, the company has reported 53% rise in its consolidated net profit at Rs 75.1 crore for the quarter ended June 30, 2015 as against Rs 49 crore reported in the same period last year.
Allcargo Logistics is an integrated logistics service provider and broadly operates in three segments - Multimodal Transport Operations (MTO), Container Freight Stations (CFS)/Inland Container Depot (ICD) and Project & Engineering solutions (P&E).