TCI reports 94% jump in standalone PAT to Rs 78 crore in Dec quarter

Integrated supply chain and logistics form TCI on Thursday reported a 94 per cent year-on-year jump in standalone profit after tax (PAT) at Rs 78 crore for the December 2021 quarter.

The company had posted a standalone PAT of Rs 40 crore in the corresponding quarter of the last financial year, it said in a statement.

Revenue from operations during October-December 2021 rose 6.2 per cent y-o-y to Rs 759 crore, it said.

The firm also saw its Ebitda (earnings before interest, tax, depreciation and amortisation) during the December 2021 quarter has jumped 35.71 per cent to Rs 114 crore, from Rs 84 crore in the year-ago period.

TCI Managing Director Vineet Agarwal said, "The third quarter and nine months into the current financial year have been encouraging and in line with the positive business momentum in the country. All service offerings have performed well both on topline (revenue) and bottomline (profit) fronts."

The festive season added to the growth despite constraints in the automotive sector due to the ongoing semiconductor shortage, he said.

Agarwal added that multimodal logistics continued to gain strides, especially the company's coastal shipping business performing exceptionally.

He said, "TCI remains invested in the multi-modal business as it has a direct bearing on reduction in GHG (greenhouse gas) emissions leading to a positive ESG (environmental, social and governance) compliance for all our clients."

TCI continues to witness an upward swing in demand for third-party logistics (3PL) and cold supply chain solutions, driven by the technology-enabled platform for fulfilment and customer service, Agarwal said.