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MC Interview | We aim to diversify our business to generate a third of our revenue from non-road segment in the next five years: TCI MD Vineet Agarwal

Agarwal said that his company plans to invest Rs 200-250 crore as capital expenditure to boost capacity of its non-road assets in the next four years. Most of that will be used to acquire new ships, containers and working assets, and for the construction of warehouses.

November 01, 2022 / 06:36 PM IST

Transport Corporation of India (TCI) is working hard to diversify its business and aims to generate one-third of its revenue from its non-road businesses in the next five years, the company’s managing director Vineet Agarwal told .

In an interview, Agarwal said that his company plans to invest Rs 200-250 crore as capital expenditure to boost capacity of its non-road assets in the next four years. Most of that will be used to acquire new ships, containers and working assets, and for the construction of warehouses.

The logistics company reported a 13.5 percent rise in its consolidated revenue in Q2FY23 to around Rs 940 crore. However, its consolidated net profit fell 3.8 percent to Rs 103.3 crore due to a 200-basis point fall in operating margins. Agarwal said that the fall was seasonal in nature as TCI had sent ships for dry-docking in July-September and margins are likely to rise going forward.

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