Transport Corporation of India (TCI) today reported a standalone net profit of Rs 24.10 crore for the quarter ended March 31, 2016.
The firm had clocked a net profit of Rs 21.51 crore in the year-ago period, it said in a regulatory filing.
Its revenues rose by 6 percent to Rs 604.12 crore in the January-March quarter of last fiscal from Rs 569.10 crore during the same quarter in 2014-15.
For the entire 2015-16, the firm's net profit rose to Rs 85.06 crore from Rs 75.95 crore in 2014-15. Revenues were higher at Rs 2,270 crore from Rs 2,209 crore during the same period.
Overall revenue growth remained weak due to sluggish economic demand though some volume growth was seen in the last quarter of the financial year (2015-16), the firm said.
TCI Group Managing Director Vineet Agarwal said: "Our new service lines like eCommerce fulfilment, last mile delivery and multimodal coastal shipping on the West coast of India has given us some momentum for the coming financial years, which is also visible in the results of the last quarter." TCI has a continuous thrust to look at growth opportunities including opening a temperature controlled warehouse to service cold chain industry and providing end-to-end cross border solutions across SAARC countries by opening its subsidiary TCI Bangladesh Ltd, he added.
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