New Delhi: Transport Corporation of India (TCI) on Saturday reported a decline of 4.14% in its consolidated net profit. 73 crore for the quarter ended September.
During the corresponding quarter of the previous financial year, the company had reported a consolidated net profit of 76.16 crores.
However, it reported a 21.77 per cent increase in its consolidated net profit. 151 crore during the April-September period of FY23. During the corresponding period of the previous financial year, the company had reported a consolidated net profit of 124 crores.
Its revenue from operations grew 21% on a year-on-year basis during the first half of the financial year under review. 1,836 crore, the company said in a statement.
Commenting on the result, Vineet Agarwal, Managing Director, TCI, said: “In Q2 and HY FY23, the company performed consistently. The focus on core business fundamentals along with rising demand in the automobile and consumption sectors has driven inflation to all business segments. Enabled to deliver satisfactory results in spite of the pressure of
The company is uniquely positioned to tap the high growth segment through its extensive multimodal network, customized service offerings and investments in the right technology and automation, the statement said.
“In addition, the launch of the National Logistics Policy along with the previously announced PM Gati Shakti framework will play a vital role towards seamless multimodal transport and modern connectivity, increased digitization and standardization to make our country’s logistics efficient and competitive. TCI continues to invest strongly in all these themes for strong growth over the years.”
On a standalone basis, the company made a net profit of 134 crores, as compared to 117 crore in H1 FY2022.
Its revenue from operations up 23% 1,658 crore during the first half of the financial year.
catch all corporate news And updates on Live Mint. download mint news app to receive daily market update & Live business News,