May 24, 2017: Express distribution company TCIEXPRESS has released the financial results for FY2016-17 ended 31st March, 2017.
For the quarter ended 31st March, 2017, net revenues increased robustly by 15 percent to Rs 203.12crores.
EBIDTA for this quarter of FY16-17 stands at Rs 19.33 crores with the growth of 30 percent over last year. With this increase in revenues, Profit After Tax (PAT) jumped by 56 percent to Rs 12.25crores for Q4 FY16-17 over corresponding period of last year. The company has recommended its final dividend of 40 percent (Re 0.80 per equity share on face value of Rs 2 per share). The total dividend i.e interim and final for the year is of 80 percent (Rs 1.60 per equity share on face value of Rs 2 per share).
For the financial year ended 31st March, 2017, net revenues increased by 14 percent to Rs 755.09 crores. EBIDTA for FY2017 stands at Rs 67.63 crores with the growth of 24 percent over last year. Profit After Tax (PAT) also jumped by 44 percent to Rs 40.71 crores for FY2017 over last Financial year.
Commenting on the results, Chander Agarwal, managing director, TCIEXPRESS said, “The results are looking optimistic. This quarter has proven beneficial for us with 56 percent of growth in profit after tax. The supportive business and policy environment is an enabler and we look forward to changes that can help us propel growth further and be a partner to India’s economic development.”
Last year, TCIEXPRESS de-merged from its parent company TCI, to form a separate business entity focusing on express delivery services. The company subsequently listed on the bourses, effective from 16th December 2016.