core sector communique

TCI’s Nine Months PAT up by 27%

Announces Interim Dividend @ 20%

 

Kolkata, January 20, 2011: Transport Corporation of India Ltd., India’s leading integrated supply chain and logistics solutions provider, today announced its financial results for the Quarter ended December 31, 2010. The company’s total revenue for Q3 registered a growth of 16.71­­­­­­­­% rising to Rs. 445 Crores from Rs. 381 Crores in the same period last year. EBITDA margin during Q3 increased from Rs 2765 lacs to Rs 3404 lacs over corresponding quarter last year. Also the PBT (after exceptional Items) rose by 11.32% i.e. to Rs.18.51 Crores from Rs. 16.63 Crores in the same period last year.

The company’s total revenue for the nine months ending December 31, 2010, rose by 21.78% to Rs. 1281.29 Cr. from Rs. 1052.17 Cr. in the same period last year. The company’s PAT rose by ­26.67% to Rs. 38.57 Cr. from Rs. 30.45 Cr. in the same period last year. Profitability for Q3 was not comparable with that of corresponding quarter last year on account of extra dry dock expenses in Shipping Division and higher interest incidence across all divisions due to prevailing economic scenario.   

 

Keeping in view the overall performance, the Board of Directors has decided to make payment of Interim Dividend to the Shareholders @20% whose entitlement shall be decided on the basis of RECORD DATE to be fixed in consultation with Stock Exchange.

 

Commenting on the company’s performance, Mr D P Agarwal, Vice Chairman and Managing Director, TCI said, “We have witnessed a healthy growth in our profitability which has been driven by better realisation and heavy movement of inventory during the festival season in the last quarter. We are anticipating a 10-15% increase in revenues and about 20-30% increase in our profit margins for the current full financial year. We also intend to grow at least at 20% compounded annual growth rate for the next couple of years, focussing more on value added product offerings.”

 

 

About Group TCI: Group TCI, with revenues of over Rs.1700 crores, is India's leading integrated supply chain and logistics solutions provider. TCI group with expertise developed over 5 decades has an extensive network of company owned offices, 8.5 mn Sq ft of Warehousing Space and a strong team of trained employees. With its customer-centric approach, world class resources, State-of-Art technology and professional management, the group follows strong corporate governance and is committed to value creation for its stakeholders and social responsibilities. TCI was the first to launch several solutions in the logistics field. Its product offering includes:

TCI Freight: India’s leading surface transport entity. This division is fully equipped to provide total transport solutions for cargo of any dimension or product segment. It transports cargo on FTL (Full truck load) / LTL (Less than truck load) / Small packages and consignments/ Over Dimensional cargo.

 

TCI XPS: A leading express distribution specialist, it offers a single window door-to-door & time definite solution for customers’ express requirements. It services 13000 locations in India and 200 countries abroad.

 

TCI Supply Chain Solutions: TCI SCS is a single window enabler of integrated supply chain solutions right from conceptualization and designing the logistics network to actual implementation. The core service offerings are Supply Chain Consultancy, Inbound Logistics, Warehousing/ Distribution Centre Management & Outbound Logistics.

 

TCI Global:  The global business division of TCI provides end-to-end logistics solutions across boundaries. TCI Global offers freight forwarding & customs clearance activities from all its domestic and international offices. TCI Global caters to specific industry verticals such as Pharma & Temp control, Commodity (Agri & Non Agri) Retail & FMCG, Auto & Project Cargo.

 

TCI Seaways: TCI Seaways has well equipped ships in its fleet and caters to the coastal cargo requirements for transporting container and bulk cargo.

TCI Developers Ltd: The real estate arm of Group TCI has been created to look into the development of commercial properties of TCI. These properties will be developed into office complexes, residential buildings, etc. depending on the best use of the property. It is also undertaking development of large modern Warehouses, Logistics Parks etc.

TCI Foundation: As the group’s social arm, TCIF fulfils corporate social responsibility and runs charitable hospitals and schools for the under-privileged in the rural areas. It has also collaborated with the Bill & Melinda Gates Foundation & National Aids Control Organization to run programs on AIDS interventions and education among the vulnerable trucking community.