Wed. Jul 17th, 2024

Company’s standalone Revenue Growth: 7.8%

Net profit growth : 8.7%

Mumbai, 2nd August 2023: India’s leading integrated supply chain and logistics solutions provider, Transport Corporation of India Ltd., announced its financial results today for the 1st quarter of FY’24 ending 30th June 2023. The company’s total revenue for the quarter recorded a growth of 7.8% over the corresponding quarter last year while the profit recorded a growth of 8.7% during this period.

Standalone

Performance Highlights: Q1 FY2024 vs. Q1 FY2023

Revenue from operations of Rs. 8,875 Mn, growth of 7.8% y-o-y

EBITDA of Rs. 1,244 Mn compared to Rs. 1,151 Mn in FY2023

PAT of Rs. 833 Mn compared to Rs. 766 Mn in FY2023 and grew by 8.7%

Consolidated

Performance Highlights: Q1 FY2024 vs. Q1 FY2023

Revenue from operations of Rs. 9,583 Mn, growth of 5.5% y-o-y

EBITDA of Rs. 1,267 Mn compared to Rs. 1,191 Mn in FY2023

PAT of Rs. 832 Mn compared to Rs. 786 Mn in FY2023 and grew by 5.9%

=====================================================================================

Commenting on the results, Mr. Vineet Agarwal, MD – TCI said, “The Company has delivered consistent performance despite the industry headwinds of low consumer demand, slow-down in EXIM trade and moderate credit growth.

Our warehousing, 3PL services & emerging vertical solutions have seen traction along with heavy demand in the automotive segment. In addition, brands will witness demand due to good monsoon and upcoming festive season.

We continue to keep sustainability at the core of everything we do, thereby enabling our customers to meet their net-zero climate goals. TCI has committed to deploy zero emission trucks over the next 18-24 months to run on India’s first zero emission road freight cluster as announced by Niti Ayog in collaboration with WRI India & World Economic Forum.

Our investments in strengthening rail and coastal multimodal service offerings and building networks thereof remain.

As India gears up to be amongst the top 3 world economies, TCI is building up its capabilities and capacities to remain as leaders in logistics.

Leave a Reply

Your email address will not be published. Required fields are marked *