Transport Corporation of India PAT zooms 10-fold to Rs 47 cr in Jun quarter

Logistics firm Transport Corporation of India (TCI) has reported a 10-fold jump in consolidated profit after tax (PAT) to Rs 47.47 crore for the quarter ended June 30, 2021.

The company had posted a consolidated PAT of Rs 4.72 crore in the year-ago period, the company said in a statement.

Its consolidated income during April-June 2021 increased to Rs 700.21 crore, compared with Rs 408.76 crore in the year-ago period.

“The momentum of economic recovery has been slow due to demand-side issues on account of micro area lockdowns. However, volume growth is visible across all sectors.

“Overall, the start to the current financial year has been better than Q1 of FY21. It proves that we have geared our business to focus on the right sectors,” TCI Managing Director Vineet Agarwal said.

The company has undertaken a vaccination drive at its offices across India covering all employees, drivers and contract workers, he said.

“Moving ahead, we will continue focusing on segments like e-commerce, chemical, pharma and cross-border deliveries.

“TCI will ensure suitable investments to power growth and digital transformation while sustaining profitability and delivering value to its stakeholders,” he added.

TCI is a leading end-to-end integrated supply chain and logistics solutions provider and a pioneer in the sphere of cargo transportation in India.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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