Transport Corporation of India reports 35.6% rise in Q4 net profit
- During the corresponding period of the previous financial year (FY21), the company had reported a net profit of ₹65.15 crore.
Logistics company Transport Corporation of India (TCI) Ltd on Saturday reported a 35.62% increase in its consolidated net profit for the January-March quarter of FY22 at ₹88.36 crore.
During the corresponding period of the previous financial year (FY21), the company had reported a net profit of ₹65.15 crore.
Its revenue from operations increased 0.56% during the quarter under review to ₹897.73 crore. During the January-March quarter of FY21, the company had registered an operational revenue of ₹892.69 crore.
In the financial year 2021-22, the nearly doubled its consolidated net profit to ₹293 crore, said a company statement. It net profit in FY21 stood at ₹150 crore.
Revenue from operations during the last financial year increased 16.2% on a year-on-year basis to ₹3,257 crores.
Commenting on the performance, Vineet Agarwal, Managing Director of TCI said: “The fourth quarter and the full FY 2021-22 despite the impact of second wave of Covid, industry wide supply chain disruptions have been good in terms of top line and most importantly margins. Both revenue and margins are at an all-time high as all service verticals are on a growth path. This is primarily due to TCI’s adherence to core business fundamentals of high degree of customer focus.”
He added that multimodal rail and coastal shipping continue to be the thrust areas and seaways division has recorded exceptional performance with higher market container rates.
TCI remains invested in multi-modal business as it has a direct bearing on reduction in GHG (greenhouse gas) emissions leading to a positive ESG compliance for all our clients, he said.
“Our focus on emerging verticals and innovative solutions for our customers has also beefed up the numbers. The government vision on Gati Shakti coupled with customers demand for contract logistics and technology driven value added services augur well for the company in the coming years,” Agarwal said.
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First Published:28 May 2022, 09:40 PM IST
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