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TCI net profit up 52.04% on operational income

Published on Tue, May 22, 2007 at 18:02 | Source : Moneycontrol.com

Updated at Tue, May 22, 2007 at 20:42

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Transport Corp

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Transport Corporation of India Ltd ., India's leading integrated logistics and supply chain solutions provider, today announced its annual financial results for fiscal 2006 - 07. The full year Profit After Tax has registered a significant jump of over 52 % to Rs.30.15 Crores from Rs.19.83 Crores (Excluding extra ordinary other income of Rs. 0.42/ 7 Crores during 2006-07 and 2005-06 respectively) in the financial year 2005-06. The Net Sales/Income from Operations during 2006 - 07 is Rs 1089 Crores, registering a 20% increase over 2005 - 06 sales of Rs 907 Crores. The company has crossed Rs 1000 crores in freight revenue this year.

The Profit Before Tax has risen by over 45 % to Rs. 43.60 Crores from Rs. 30.09 Crores (Excluding extra ordinary other income of Rs. 0.42/ 7 Crores during 2006-07 and 2005-06 respectively) in the corresponding period last year.

* Excluding extra ordinary other income of Rs.0.42/ 7 Crores during 2006-07 and 2005-06 respectively

Upbeat on the Company's phenomenal performance in 2006-07, Mr. D P Agarwal, Vice Chairman & Managing Director, TCI said, "We have witnessed significant growth in business this year that has enabled us to become an over Rs.1200 Crores Group. The growth can be ascribed to both intrinsic and extrinsic factors. We had strategically planned to diversify the business and consolidate our presence in certain identified spheres such as warehousing, shipping, express delivery and supply chain solutions. The growth in each of these businesses has been promising and we are confident of sustaining the momentum. In addition, the demand from the manufacturing and retail sector, reduction in diesel prices and an overall buoyant economy has given impetus to the business."

On the future outlook of the company, he said, "We have been consistently growing at the rate of 15-20% Y-o-Y and with our aggressive investment plans, we are confident of achieving a steady growth of 25-30% Y-o-Y. While we will continue to provide all encompassing supply chain solutions to industry verticals like auto, telecom, FMCG, etc., we are extremely bullish about the mounting demand from retail companies and are looking at deriving a major chunk of our business from this sector. Apart from investing for capacity augmentation and infrastructure upgradation, we plan to expand our network both nationally and globally."

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