EBITDA during the quarter declined 20.4% year-on-year (YoY) basis to Rs 28 crores as compared to Rs 35 crore reported in the corresponding period last year. EBITDA margin fell to 11.7% in Q4 March 2020 from 13.1% in Q4 March 2019.
Total expenditure stood at Rs 211.26 crore (down 9% YoY), interest payments were at Rs 0.27 crore (down 43.7% YoY) and current tax expense was at Rs 6.37 crore (down 39.8% YoY) in the fourth quarter of the financial year 2020. However, depreciation costs jumped 22.5% to Rs 2.07 crore in Q4 FY20 over Q4 FY19.
Profit before tax (PBT) stood at Rs 25.51 crore in Q4 March 2020, down by 22.3% from Rs 32.82 crore in Q4 March 2019.
The companys net profit rose 22.3% to Rs 89.08 crore on a 0.8% rise in net sales to Rs 1031.96 crore for the full year ended on 31 March 2020 (FY20) as compared to the full year ended on 31 March 2019 (FY19). PBT stood at Rs 116.98 crore in FY20, up by 4.6% from Rs 111.87 crore in FY19.
Commenting on the performance, Chander Agarwal, managing director, said: Our stable margin profile is attributable to higher capacity utilization, operational efficiency and efficient working capital management. The momentum that we had gained during FY2020 was lost in March 2020 with the unfortunate outbreak of coronavirus. The closure of factories and offices along with the inter-state movement has clearly impacted the transportation and logistics sector.
The company is closely monitoring the impact of this pandemic on the economy and business. The actual impact on the business will depend on the severity and course of the COVID-19 in the near term and we shall have a better clarity in the coming days once lockdown is lifted.
The upcoming quarter looks challenging due to the ongoing lockdown. However, our asset light model coupled with a strong balance sheet will not only allow us to navigate through these unprecedented times but also emerge stronger.?
TCI Express operates as an integrated supply chain and logistics solutions provider. The company offers transportation, storage, warehousing, and support services for transportation.
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