On Friday, the stock witnessed choppy trade as it swung between gains and losses. It rose as much as 2.5% to hit a high of ₹148, while it slipped 2.3% to touch a low of ₹141 on the BSE. The stock was trading higher than 200-day moving averages, but lower than 5-day, 20-day, 50-day, and 100-day averages.
Posts solid earnings in December quarter
Flomic Global Logistics has posted net profit of ₹3.38 crore for the quarter ended December 31, 2021, as against ₹1.67 crore in the year-ago period and ₹0.70 crore in September quarter of 2021. The total income more than doubled to ₹110.76 crore in Q3FY22, as compared to ₹48.29 crore in the corresponding quarter of the last fiscal. It had reported a total income of ₹80.89 crore during the period ended September 30, 2021.
For the nine-month period ended December 2021, the net profit stood at ₹4.88 crore as against ₹3.39 crore in the same period last year. Revenue jumped more than two-fold to ₹247.60 crore, from ₹112.12 crore during the 9-month period ended December 31, 2020.
For the full financial year 2020-21, the company reported net profit of ₹2.47 crore against a loss of ₹0.05 crore in the fiscal ended 2020. Sales increased to ₹165.02 crore as compared to ₹114 crore in FY20.
