TCI’s standalone revenue grow by 16% for Q1 17

TCI’s standalone revenue grow by 16% for Q1 17

August 03, 2017: Transport Corporation of India has announced its financial results for the first quarter ended on 30th June 2017, wherein the company registered 16 percent growth in standalone revenue and 17 percent in net margins.

Commenting on the results, managing director Vineet Agarwal said, “The first quarter showed good growth in all the service segments like FTL (Full Truck Load), LTL (Less than truck load), large scale warehousing, and multimodal rail and coastal solutions. The supportive government policies and infrastructure development is an enabler and we look forward to changes that can help us propel growth further and be a partner to India’s economic development.”

He added that the July 1st GST roll out is the next big thing after demonetization for Indian economy. Though it has been a month since the roll out of GST, volumes are still subdued. Agarwal further added that the company is GST ready to support its customers and suppliers with its network and IT integration in place. GST is a game changer for the logistics industry and the company expects to benefit in the short and medium term, he said.