Transport Corporation of India Ltd. announces Results for Q3/9M FY’24 ended 31st December 2023

Gurugram, India, 5th Feb 2024: India’s leading integrated supply chain and logistics solutions provider, Transport Corporation of India Ltd., announced its financial results today for the 3rd quarter and Nine months ended 31st December 2023. The Company’s total revenue for the quarter recorded a growth of 2.2% over the corresponding quarter last year while the profit recorded a growth of 0.3% during this period.

Standalone

Performance Highlights: Q3 FY2024 vs. Q3 FY2023

Revenue from operations of Rs. 8,999 Mn, growth of 2.2% y-o-y

EBITDA of Rs. 1,386 Mn compared to Rs. 1,376 Mn in FY2023

EBITDA Margin of 15.40% compared to 15.62% in FY2023

PAT of Rs. 956 Mn compared to Rs. 953 Mn in FY2023 and grew by 0.3%

PAT Margin of 10.62% compared to 10.82% in FY2023

Consolidated

Performance Highlights: Q3 FY2024 vs. Q3 FY2023

Revenue from operations of Rs. 10,020 Mn, growth of 3.7% y-o-y

EBITDA of Rs. 1,276 Mn compared to Rs. 1,316 Mn in FY2023

EBITDA Margin of 12.73% compared to 13.61% in FY2023

PAT of Rs. 802 Mn compared to Rs. 865 Mn in FY2023

PAT Margin of 8.00% compared to 8.95% in FY2023

Commenting on the results, Mr. Vineet Agarwal, Managing Director, said, “The Company has demonstrated a stable performance in the current quarter and nine months ended December 2023, given challenges in the macro environment. Our supply chain solutions, rail multi-modal and cold supply chain solutions witnessed traction.

We strive to remain the preferred logistics partner for our customers across the Indian sub-continent by prioritizing investments in warehousing, multimodal infrastructure & cutting-edge technology.

As we look ahead, TCI remains poised to seize new opportunities that contribute towards shaping a more efficient and competitive logistics ecosystem for the country.”