Transport Corporation clocks new all-time high on robust performance in Q4 results

Strong Q4FY21 standalone revenue growth over Q4FY20 by 27.65%.

May 26, 2021 10:05 IST India Infoline News Service

India’s leading integrated supply chain and logistics solutions provider, Transport Corporation of India Ltd has announced its consolidated financial results for the financial year ended on 31st March, 2021.

Key Highlights:
  • Strong Q4FY21 standalone revenue growth over Q4FY20 by 27.65%
  • Record Q4 standalone profit growth by 68.98%
  • Robust pipeline of customers for integrated logistics services
Commenting on the results, Vineet Agarwal, Managing Director, TCI stated, “During the entire past year we have been affected by the pandemic and the slow down continuing from FY 2019. The Indian economy, however, recovered some ground not only due to pent up demand but also the shift seen in consumer preferences in the new normal.

Despite a slow first quarter, we delivered a steady performance. All segments have performed well due to our continuous focus on building strong customer relationships, superior multimodal network, diversified portfolio of value-added services from design to execution. The emerging business units have also shown good traction. Our emphasis on improving operating efficiencies has led to cost optimization and profitability growth.

The pandemic increased opportunities for Cold Supply Chain services resulting in enhanced demand for transportation in reefer vehicles, temperature-controlled warehousing, and many other areas. TCI through its subsidiary TCI Cold Chain Solutions Limited has entered into a joint venture with MITSUI & Co. Limited (MITSUI). MITSUI has global expertise in logistics & supply chain management and we believe that the synergies created by bringing together the respective resources and capabilities will create more value for our customers.

With the country currently experiencing the pandemic on a scale that has never been seen before, TCI has stepped in to deliver mission-critical logistics. Thus far, the TCI have handled over 5000 tonnes of liquid medical oxygen (LMO) from source to destination with total visibility following all safety guidelines. We are also delivering vaccines, medicines, essentials & food grains, oxygen concentrators amongst other items to most needed locations around the country.

We will continue to sustain our position by offering customized, technology-driven supply chain & integrated multimodal logistics solutions thus unlocking the business potential of our customers."

The company hits new all-time at Rs351 per piece on Wednesday.

At around 10:22 AM, Transport Corporation of India was trading at Rs340 apiece up by Rs34.25 or 11.2% on Sensex.

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