Second half to be better; see 12-15% growth in FY16: TCI

Freight and logistics firm Transport Corporation of India is aiming for a 12-15 percent growth in topline for the year, and a 15 percent growth in bottomline, says Vineet Agarwal, Managing Director of the company. The June quarter earnings were tepid, and Agarwal attributes it to seasonality. He says volume growth for this quarter as well is likely to be tepid since economic recovery has been patchy so far.He expects margins to be slightly better as the benefits of cheaper fuel beginning July will reflect in the numbers.He sees a 5-10 percent volume growth for this quarter, as the festive season has been pushed back a little.He expects the second half to be much better.“The second half is always better for us as there is a lot of inventory push that happens into the system,” he says in an interview to CNBC-TV18.Watch video for full interview