Allcargo Logistics Q2FY2024 net profit drops 92%

Allcargo Logistics reported a 92 percent decline in net profit at Rs 16 crore for the second quarter ended September 30, 2023 compared to Rs 195 crore in Q2FY2023. Revenue from operations declined 35 percent to Rs 3,307 crore, says an official release. “The board has approved the issuance of three bonus shares for each […]

Borzo launches anti-fraud feature for CoDs

Borzo (erstwhile WeFast), a global on-demand delivery service firm, launched an anti-fraud feature in its delivery app in India to bring down the number of delivery frauds. The new, anti-fraud feature is a courier scoring system known as Trust Score, which is expected to lower fraud deliveries by 85 percent in India based on the […]

Jacksonville Port Authority cargo volumes dip 2% in August

Jacksonville Port Authority fell 2% YoY to 115,101 TEUs in August, which the port describes as a steady month. “Our business normally fluctuates plus or minus 5 percent from calendar year to calendar year, so 2 percent falls within that normal range,” a spokesperson told Supply Chain Dive, noting such annual fluctuations are “due to […]

Mahindra Logistics unveils multi-client warehouse in Bhiwandi

MUMBAI: Mahindra Logistics Ltd., on Friday, unveiled its warehouse in Bhiwandi, located near Mumbai. This facility spans 6.5 lakh square feet allows Mahindra Logistics Ltd. to provide flexible, scalable fulfilment and integrated distribution solutions. The new warehouse will be an important part of Mahindra Logistics Ltd. Pan-India network of multi-client facilities that manage the fulfilment […]

Logistic major Allcargo subsidiaries buys land parcel worth Rs 231 crores in Gurgaon

Logistic major Allcargo Logistics Ltd’s two subsidiaries — Allcargo Inland Park and Jhajjhar Warehousing Private Ltd — have bought two land parcels in Gurgaon for a total consideration Rs 231 crore. Allcargo Inland Park bought the land tract from Model Economic Township for Rs 134 crore while Jajjhar Warehousing also bought bought land worth Rs […]