Transport Corporation of India reports 35.6% growth in Q4 net profit

New Delhi Logistics company Transport Corporation of India (TCI) Ltd on Saturday reported a 35.62 per cent rise in its consolidated net profit for the January-March quarter of FY22. 88.36 crores.

During the corresponding period of the previous financial year (FY21), the company had reported a net profit of 65.15 crores.

Its revenue from operations grew 0.56% during the quarter under review 897.73 crores. During the January-March quarter of FY 2011, the company had reported operating revenue of 892.69 crores.

In FY 2021-22, nearly doubled its consolidated net profit 293 crore, a company statement said. Its net profit in FY 2011 was 150 crores.

Revenue from operations grew by 16.2% y-o-y during the last financial year 3,257 crore.

Commenting on the performance, Vineet Agarwal, Managing Director, TCI, said: “Despite the impact of the second wave of Covid in the fourth quarter and full FY 2021-22, industry-wide supply chain disruptions have been good in terms of top line and The most important thing is the margin. Both revenue and margins are at all-time highs as all the services sectors are on growth trajectory. This is primarily due to TCI’s adherence to the core business fundamentals of high standards of clients.”

He said that multimodal rail and coastal shipping continues to be a major sector and the sewage division has registered exceptional performance with high market container rates.

He added that TCI is invested in the multi-modal business as it has a direct impact on reduction of GHG (Greenhouse Gas) emissions, leading to positive ESG compliance for all our customers.

“Our focus on emerging verticals and innovative solutions for our customers has also grown in numbers. The government’s outlook on Gati Shakti bodes well for the company in the coming years with the demand for contract logistics and technology driven value-added services from customers,” said Agarwal.

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