BackLogistics stock declares 125% dividend, posts 22% PAT growth in Q3
With a market valuation of ₹4,831.92 Cr, Transport Corporation of India Limited is a small-cap company that engages in the logistics industry.
PremiumWith a market valuation of ₹4,831.92 Cr, Transport Corporation of India Limited is a small-cap company that engages in the logistics industry. In India, TCI is the market leader in comprehensive international logistics and supply chain solutions. Today, the firm announced its Q3 earnings and a 125% dividend.
The company has said in a stock exchange filing that its Board of Directors has “Declared 2nd Interim Dividend for FY 2022-23 @125% (Rs. 2.50/-) per Equity Share of Face Value of Rs.2/- each to the Shareholders whose names appear on the Register of Members on the RECORD DATE i.e. Tuesday, the 7th February, 2023, which has been decided in due consultation with the Stock Exchanges. The payment of dividend/dispatch of warrants will be completed within 30 days of declaration of Interim Dividend i.e. on or before 28th February, 2023."
On a standalone basis, the company reported revenue from operations of Rs. 881 Crores, growth of 16% y-o-y and EBITDA of Rs. 138 Crores in Q3FY23 compared to Rs. 114 Crores in Q3 FY2022. The company posted a net profit of ₹95 Crores in the quarter ended December 2022 compared to Rs. 78 Crores in the quarter ended December 2021, registering a growth of 22.9% YoY.
Commenting on the results, Mr. Vineet Agarwal, Managing Director, TCI stated, "In Quarter 3 of the financial year, the company has accomplished consistent performance amidst a stable macro environment. All our business segments have delivered satisfactory results in line with expectations. While we keep a balanced view on the industrywide challenges around inflation and tightening of credit we are confident of achieving our goals to build an integrated multi modal logistics solutions organization. At TCI, our value system and our people remain at the core our customers’ success."
On the NSE, the shares of Transport Corporation of India Limited closed today at ₹627.00 apiece level, up by 0.97% from the previous close of ₹620.95. The stock recorded a total volume of 48,797 shares compared to the 20-Day average volume of 44,069 shares. The stock reached a 52-week-high of ₹844.95 on (20-Oct-2022) and a 52-week-low of ₹527.00 on (09-Mar-2022). For the quarter ended December 2022 or Q3FY23, the company reported a promoter shareholding of 69.03%, FIIs stake of 3.30%, DIIs stake of 11.70% and public stake of 15.97%.
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