Transport Corporation Of India Posts Strong Q4 & FY 2024 Results

Mobility Outlook Bureau
16 May 2024
05:00 PM
1 Min Read

The company has launched several customised solutions, including WhatsApp for business, a control tower, and integrations with ULIP and ONDC.

Transport Corporation Of India Posts Strong Q4 & FY 2024 Results mobility outlook

Transport Corporation of India Ltd (TCI) has announced its financial results for the fourth quarter and financial year ending 31st March 2024. The company reported healthy growth in both revenue and net profit, reflecting its strong performance in key sectors.

Financial Highlights: Q4 FY 2024 vs. Q4 FY 2023

Consolidated Results:

Revenue: INR 10,789 million (up 10.2% from INR 9,794 million)

EBITDA: INR 1,436 million (up 12.8% from INR 1,273 million)

PAT: INR 1,033 million (up 25.4% from INR 824 million)

Standalone Results:

Revenue: INR 9,539 million (up 7.2% from INR 8,897 million)

EBITDA: INR 1,173 million (up 1.1% from INR 1,160 million)

PAT: INR 820 million (up 10.7% from INR 741 million)

Financial Highlights: FY 2024 vs. FY 2023

Consolidated Results:

Revenue: INR 40,242 million (up 6.39% from INR 37,826 million)

EBITDA: INR 5,298 million (up 6.99% from INR 4,952 million)

PAT: INR 3,545 million (up 10.57% from INR 3,206 million)

Standalone Results:

Revenue: INR 36,138 million (up 5.35% from INR 34,302 million)

EBITDA: INR 4,890 million (up 4.51% from INR 4,679 million)

PAT: INR 3,279 million (up 8.04% from INR 3,035 million)

Commenting on the results, Vineet Agarwal, Managing Director of TCI, stated “TCI has delivered a stellar performance, spurred by growth in key sectors such as automobiles, engineering, and temperature-sensitive products, alongside promising developments in new-age verticals. The new financial year has started with a strong pipeline for most of our services, including 3PL, warehousing, inbound-outbound logistics, cross-border, rail, and coastal multimodal solutions.”

Agarwal also highlighted the company's commitment to sustainability through the adoption of electric vehicles (EVs) and alternative fuels like LNG. He noted that the TCI-IIMB Supply Chain Sustainability Lab celebrated its first anniversary, emphasising the team’s dedication to advancing ESG practices within the industry. Looking ahead, the company is optimistic about the post-election period, anticipating strong performance improvements. TCI has also introduced a new website to enhance interactivity with customers and stakeholders.

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