TCI Express reports Q1 FY27 growth as e-commerce business jumps 63%

TCI Express reported an 8.7% year-on-year increase in total income to ₹3.153 billion in the first quarter of FY27, driven by growth across its multimodal logistics network, while its e-commerce express business recorded a 63% year-on-year increase to become the company's fastest-growing segment. During the quarter, the company expanded its branch network beyond 1,000 locations across India.

The company said the growth was supported by customer additions, stronger demand across key sectors, automation-led process improvements and continued investment in network optimisation and technology-enabled logistics solutions.

Chander Agarwal, Managing Director of TCI Express, said the company made a positive start to FY27, with total income rising 8.7% year-on-year to ₹3.153 billion. He said the performance was supported by customer additions, network expansion and demand from the e-commerce, manufacturing, pharmaceutical, automotive and SME sectors. Despite higher operating costs and competitive pricing in certain segments, the company continued to focus on service quality, technology adoption and network efficiency.

Surface Express remained the company's largest business during the quarter, recording 8.7% year-on-year growth, supported by higher shipment volumes from existing customers, new account additions and steady demand across key industrial sectors. The company also expanded its operating footprint by opening new branches and facilities at strategic industrial locations to improve service coverage.

Domestic Air Express benefited from customer additions, expansion of enterprise accounts, wider airport delivery coverage and greater automation of operational processes. International Air Express grew 27.3% year-on-year through new customer additions, returning customers and expanded partnerships with global carriers. E-Commerce Express was the fastest-growing business during the quarter, while C2C Express and Rail Express strengthened their operations through branch expansion and technology integration.

The company maintained a debt-free balance sheet while continuing to invest in technology, automation and network expansion to strengthen its multimodal logistics capabilities. It said it plans to expand its dedicated Air Express network, establish standalone air cargo hubs and introduce new service offerings for the time-sensitive logistics segment.

Revenue from operations increased to ₹3.12 billion in the first quarter from ₹2.87 billion a year earlier. EBITDA stood at ₹370 million, compared with ₹330 million in the corresponding period last year, while the EBITDA margin was 11.7%. Profit after tax reached ₹220 million, with a margin of 7.1%.