Three state-run businesses, Bharat Heavy Electricals Limited (BHEL), Bharat Earth Movers Limited (BEML), and Bank Note Paper Mill India Limited (BNPLIPL), have signed new contracts with Tiger Logistics, a global logistics services provider.
In a regulatory filing, the BSE-listed business stated, “BHEL, BEML, and BNPLIPL have extended their contracts with Tiger Logistics, entrusting the company with customs clearance and forwarding services for ocean freight and air cargo.” “The renewed partnerships underscore the PSUs’ reliance and trust on Tiger Logistics for efficient logistics handling and freight forwarding for both sea and air cargo, spanning exports and imports,” stated the filing.
Tiger Logistics had already signed a warehouse services agreement with BHEL earlier this year and finished important logistics projects for Hindustan Aeronautics Limited (HAL) and the Airports Authority of India (AAI). Due to increased revenue in Q2, Tiger Logistics’ net profit more than doubled to over Rs 8 crore. In the July–September quarter of the previous fiscal year, 2023–24, it reported a profit of Rs 3.22 crore. The company’s overall revenue more than tripled year over year, from Rs 53.99 crore to Rs 162.40 crore. Tiger Logistics (India), a worldwide logistics company founded in 2000, specializes in managing freight import and export operations both domestically and internationally.
