Transport Corporation of India reveals robust financial performance for Q4 FY24 with significant revenue and profit growth.
Transport Corporation of India (TCI) has unveiled its financial results for the fourth quarter and fiscal year ending March 31, 2024. The company reported impressive growth in both consolidated and standalone revenues, showcasing its position as a top integrated supply chain and logistics solutions provider.
In Q4 FY24, TCI witnessed a consolidated revenue growth of 10 percent, accompanied by a remarkable 25 percent increase in net profit. Similarly, standalone revenue surged by 7.2 percent, with a 10.7 percent growth in standalone net profit.
Vineet Agarwal, Managing Director of TCI, attributed the stellar performance to growth in key sectors such as automobiles, engineering, and temperature-sensitive products, alongside advancements in new-age verticals. He highlighted a strong pipeline for various services, including 3PL, warehousing, inbound-outbound logistics, and cross-border solutions.
Agarwal emphasised TCI’s commitment to sustainability, citing initiatives such as the adoption of electric vehicles (EVs) and alternate fuels like LNG. He also noted the one-year anniversary of the TCI-IIMB Supply Chain Sustainability Lab, showcasing the company’s dedication to advancing ESG practices.
TCI’s focus on innovation and excellence was highlighted through digital initiatives like WhatsApp for business, control tower integration, and the launch of a new website for enhanced customer interaction.
Looking ahead, Agarwal expressed optimism for strong performance post-election, reflecting TCI’s confidence in its continued growth trajectory.
