TCI Q3 net profit down 7%

Transport Corporation of India (TCI) reported a seven percent decline in consolidated net profit at Rs 80.2 crore for the third quarter ended December 31, 2023 with a four percent increase in consolidated revenue at Rs 1,002 crore.

EBITDA declined to Rs 128 crore from Rs 132 crore in Q3FY2023, says an official release.

For the first nine months of financial year 2024, net profit and consolidated revenue increased five percent to Rs 251 crore and Rs 2,945 crore, respectively.

"The company has demonstrated a stable performance in the current quarter and nine months ended December 2023, given challenges in the macro environment," says Vineet Agarwal, Managing Director, TCI. "Our supply chain solutions, rail multi-modal and cold supply chain solutions witnessed traction.

"We strive to remain the preferred logistics partner for our customers across the Indian sub-continent by prioritising investments in warehousing, multimodal infrastructure & cutting edge technology. As we look ahead, TCI remains poised to seize new opportunities that contribute towards shaping a more efficient and competitive logistics ecosystem for the country."