Transport Corporation of India: Bumpy road ahead
June 17, 2020 / 09:48 AM IST
Transport Corporation of India | Company reported consolidated profit at Rs 37.3 crore in Q2FY21 against Rs 38.2 crore, revenue rose to Rs 696.89 crore from Rs 684.56 crore YoY. (Image: tcil.com)
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
Multimodal logistics service provider Transport Corporation of India (TCI) had a tough FY20, because of the slowdown in the domestic economy. The March quarter was soft, but resilient given challenging market conditions. While there may be some near-term turbulence from a macro-economic perspective, TCI is well equipped to navigate through the current headwinds and is perfectly positioned to benefit from improving market conditions.
Key result highlights
In the March 2020 quarter, TCI’s sales decreased 10 percent year-on-year (YoY) to Rs 668 crores....