1, Nov 2023
Transport Corporation of India Ltd. announces Results for Q2 / H1 FY’24 ending 30th Sep 2023
Company’s standalone Revenue Growth: 6.2%
Net profit growth: 16.7%
Mumbai, India, 1st November 2023: India’s leading integrated supply chain and logistics solutions provider, Transport Corporation of India Ltd., announced its financial results today for the 2nd quarter of FY’24 ending 30th Sep 2023. The company’s total revenue for the quarter recorded a growth of 6.2% over the corresponding quarter last year while the profit recorded a growth of 16.7% during this period.
Performance Highlights: Q2 FY2024 vs. Q2 FY2023
Revenue from operations of ₹ 9,120 Mn, growth of 6.2% y-o-y
EBITDA of ₹ 1,086 Mn compared to ₹ 992 Mn in FY2023
EBITDA Margin of 11.9% compared to 11.6% in FY2023 and grew by 3.1%
PAT of ₹ 670 Mn compared to ₹ 574 Mn in FY2023 and grew by 16.7%
PAT Margin of 7.4% compared to 6.7% in FY2023 and grew by 9.9%
Performance Highlights: H1 FY2024 vs. H1 FY2023
Revenue from operations of ₹ 19,631 Mn, growth of 6.2% y-o-y
EBITDA of ₹ 2,586 Mn compared to ₹ 2363 Mn in FY2023
EBITDA Margin of 13.2% compared to 12.8% in FY2023 and grew by 3%
PAT of ₹ 1,710 Mn compared to ₹ 1516 Mn in FY2023 and grew by 12.8%
PAT Margin of 8.7% compared to 8.2% in FY2023 and grew by 6.2%
Commenting on the results, Mr. Vineet Agarwal, MD – TCI said, “The Company delivered consistent performance for Q2 /H1 FY’24. Key sectors such as Automotive, Infrastructure, Engineering & consumer goods witnessed decent traction. With the festival season underway, volume of business has seen an increase in line with expectations.
We are pleased to also share that TCI Group has been recognized as Maritime Excellence Achiever in the ’Shipping – Promoting Multimodal Logistics’ category at the Global Maritime India Summit 2023 held recently.”
TCI entered into a definite agreement with a Japanese shipyard for building two Cellular Container Vessels of approx. 7300 MT DWT each for a contract price of approximately ₹ 300 crores. The vessels will be delivered in FY26. The investment in ships and trains is in line with our objective to provide multimodal and green logistics to our customers.