Transport Corporation of India announced its second quarter financial results
MUMBAI: Transport Corporation of India Limited, India’s leading integrated supply chain and logistics solutions provider, has announced its financial results for the second quarter of FY24 ended September 30, 2023. The company’s total revenue for the quarter was up 6.2 percent over the same quarter last year, while profit was up 16.7 percent over the same period last year.
Managing Director of TCI Shri. Vineet Aggarwal said, “The company delivered a consistent performance for Q2FY24 and H1. Key segments like automotive, infrastructure, engineering and consumer goods received good response. As the festive season continues, we have seen an increase in business volume as expected. We Glad to say TCI Group has been honored as the Maritime Excellence Achiever in ‘Shipping – Promoting Multimodal Logistics’ at the recently held Global Maritime India Summit 2023.”
The company’s revenue from operations stood at Rs 9,120 million in the second quarter of fiscal 2024, a year-on-year growth of 6.2 percent. EBITDA stood at Rs 1,086 million as against Rs 992 million in FY23. EBITDA margin increased by 11.9 percent and 3.1 percent in FY23 as compared to 11.6 percent in FY23. The company’s PAT (Profit After Tax) increased by 16.7 percent to Rs 670 million in the second quarter of FY 2024 as compared to Rs 574 million in FY 2023. PAT margin increased to 7.4 percent and 9.9 percent in FY23 as compared to 6.7 percent in FY23.
Revenue from operations stood at Rs 19,631 million in the first half of FY2024, a year-on-year growth of 6.2 percent. EBITDA stood at Rs 2,586 million as against Rs 2,363 million in FY 2023. EBITDA margin increased by 3% to 13.2% compared to 12.8% in FY23. PAT (Profit After Tax) increased by Rs 1,710 million and 12.8 percent compared to Rs 1,516 million in FY23. PAT margin increased to 8.7 percent and 6.2 percent in FY23 as compared to 8.2 percent in FY23.
TCI entered into a definitive agreement with a Japanese shipyard to build two cellular container vessels of approximately 7300 MT DWT each for a contract price of approximately Rs.300 crore. The ships will be delivered in FY26. Investment in ships and trains is in line with our objective to provide multimodal and green logistics to customers.