Categories Earnings, Industrials

TCI Express Q3FY23 net profit plummeted by 9% to INR 32 crore

Express logistics firm TCI Express posted 8.57 per cent drop in net profit to INR 32 crore for the quarter ended December 30, 2022. The consolidated net profit of the company in the year-ago period stood at INR 35 crore, according to a regulatory filing.

The company’s total income from operations rose to INR 314 crore in the first quarter of the current fiscal, from INR 287 crore in the same period last year.

Expenses increased to INR 268 crore as compared to INR 240 crore earlier. In a separate statement, Chander Agarwal, Managing Director, TCI Express said: ” “TCI Express recorded another quarter of strong performance with highest quarterly Revenue of INR 315.7 crores, a growth of 9.3% on year on year and 1.5% on sequential basis. The growth was primarily driven by strong demand from the festive season, growth in the Index of Industrial Production (IIP) and E Way bill generation which ended on a strong note. Our EBITDA for the quarter stood at INR 47.4 crore with margin of 15.0%. Profit After Tax during the quarter stood at INR 32 crore with margin of 10.1%.

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