Transport Corporation of India Ltd., India’s leading integrated supply chain and logistics solutions provider, today announced its financial results for the First quarter ended on June 30th 2010. The Profit After Tax recorded an increase of 54.30% rising to Rs 12.19 crores from Rs 7.90 crores in the same period last year. The company reported a Net Sales of Rs 394.19 crores against that of Rs 313.68 crores in the corresponding quarter last year registering a growth of 25.67%.
Commenting on the company’s performance, Mr. D.P Agarwal, Vice Chairman & Managing Director, TCI said, “The first quarterly results have resulted in a convincing growth driven by a strong domestic demand upturn across manufacturing sector especially Automobile, Engineering and Capital Goods segments. The holistic growth across divisions can also be attributed to the various operational initiation taken in the recent past.
He further added, “The first quarter has been an eventful one for the logistics industry as a whole. The industry saw an increase in freight rates and truck rentals owing to the diesel price hike. However, there was not much impact on TCI as most of our customers operate on a contractual basis and eventually it gets passed on to them.”
About Group TCI:
Group TCI, with revenues of over Rs.1700 crores, is India's largest integrated supply chain and logistics solutions provider. TCI group has an extensive network of over 1200 company owned offices, with expertise developed over 5 decades and a team of 6500 trained employees. With its customer-centric approach, world class resources, State-of-Art technology and professional management, the group follows strong corporate governance and is committed to value creation for its stakeholders and social responsibilities. TCI was the first to launch several solutions in the logistics field. Its product offering includes:
TCI Freight: India’s leading surface transport entity. This division is fully equipped to provide total transport solutions for cargo of any dimension or product segment. It transports cargo on FTL (Full truck load) / LTL (Less than truck load) / Small packages and consignments/ Over Dimensional cargo.
TCI XPS: A leading express distribution specialist, it offers a single window door-to-door & time definite solution for customers’ express requirements. It services 13000 locations in India and 200 countries abroad.
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TCI Supply Chain Solutions: TCI SCS is a single window enabler of integrated supply chain solutions right from conceptualization and designing the logistics network to actual implementation. The core service offerings are Supply Chain Consultancy, Inbound Logistics, Warehousing/ Distribution Centre Management & Outbound Logistics.
TCI Global: It is the global business division of TCI and provides end-to-end logistics solutions across boundaries.
TCI Seaways: TCI Seaways has well equipped ships in its fleet and caters to the coastal cargo requirements for transporting container and bulk cargo.
TCI Foundation: As the group’s social arm, TCIF fulfils corporate social responsibility and runs charitable hospitals and schools for the under-privileged in the rural areas. It has also collaborated with the Bill & Melinda Gates Foundation & National Aids Control Organization to run programs on AIDS interventions and education among the vulnerable trucking community