Transport Corp of India Q3 profit rises marginally to Rs 34 cr

Integrated supply chain and logistics solutions provider Transport Corporation of India (TCI) on Wednesday reported a 3.18 per cent increase in consolidated net profit to Rs 34.36 crore for the quarter ended December 31, 2019. The company had posted a consolidated net profit (from ordinary activities after tax) of Rs 33.30 crore in the year-ago period, Transport Corporation of India said in a filing to BSE.

Consolidated total income from operations in the October-December period dropped marginally to Rs 712.04 crore from Rs 715.68 crore in the year-ago period, the filing said. TCI Managing Director Vineet Agarwal said, "In challenging economic environment, the results for the first nine months are as per our expectations across all the divisions. Even with low demand in almost all sectors especially in automobile and consumption driven industries, we are able to maintain some momentum in profitability."

The company expects better revenue and profitability growth for the last quarter of the year given the marginal improvement in business sentiments, Agarwal said.