TVS Supply Chain Solutions Ltd Achieves Profit Surge Amid Strong Topline Growth

TVS Supply Chain Solutions Ltd announced a consolidated profit of Rs 7.5 crore for the April-June 2024 quarter, spurred by growth in Integrated Supply Chain Solutions and Network Solutions. The company rebounded from a net loss of Rs 5.4 crore last year, with revenue increases and significant sector partnerships.

TVS Supply Chain Solutions Ltd has achieved a consolidated profit after tax of Rs 7.5 crore for the April-June 2024 quarter, driven by robust topline growth in their Integrated Supply Chain Solutions and Network Solution verticals, a senior official confirmed.

The Chennai-based company, part of the TVS Mobility Group, had posted a net loss of Rs 5.4 crore during the same quarter last year. Commenting on the financial results, Managing Director Ravi Viswanathan emphasized the strong top-line performance in both ISCS and NS segments, attributing the success to significant volume gains.

Revenue for the quarter rose by 4.7% to Rs 2,539.4 crore, compared to Rs 2,426.3 crore a year ago. Continued momentum in Integrated Supply Chain Solutions and an improved macroeconomic climate for Network Solutions facilitated this growth, the company stated. During this period, TVS Supply Chain Solutions also secured partnerships with global OEMs and received 'Partner Level Supplier' recognition from a US-based farm equipment manufacturer. This, along with investments in process automation, productivity initiatives, and efficient debt management, has led to a consistent improvement in operating margins and profit before tax for the past four quarters, noted Global CFO Ravi Prakash Bhagavathula.

(With inputs from agencies.)