Why Allcargo Share Is Falling - VRGyani News


Monday, March 25, 2024

Why Allcargo Share Is Falling

26 March 2024: Allcargo Logistics' share price has been falling recently, and here are the primary reasons linked to their financial performance reported in February 2024:

  1. Sharp Profit Decline: The main culprit seems to be a significant decline in profits.  Allcargo's net profit for the December quarter (Q3FY24) plunged by a whopping 88% year-on-year. This steep decline in profitability has likely spooked investors and led to a sell-off of shares.
  2. Revenue Drop:  Adding to the concern, the company's revenue from operations also fell by 22% compared to the same quarter in the previous year. This decline in revenue alongside the profit drop suggests a potential slowdown in their core business.
  3. Losses in US and Germany: Allcargo specifically mentioned significant losses incurred in their select markets in the US and Germany. While they expect these offices to perform better in 2024, the immediate losses are impacting overall profitability.

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