TCI reports PAT growth of 94%, EBITDA of 36% YoY in Q3 FY2022
Transport Corporation of India (TCI) announced its financial results for the third quarter ending December 31, 2021 with revenue from operations at ₹759 crore, a growth of 6.2 percent y-o-y and 3.1 percent on a sequential basis.
January 28, 2022: Transport Corporation of India (TCI) announced its financial results for the third quarter ending December 31, 2021 with revenue from operations at ₹759 crore, a growth of 6.2 percent y-o-y and 3.1 percent on a sequential basis.
EBITDA was at ₹114 crore compared to ₹84 crore in Q3 FY2021, margin at 15 percent compared to 11 percent in Q3 FY2021. The company reported PAT of ₹78 crore compared to ₹40 crore in Q3 FY2021, a growth of 94%, while PAT margin stood at 10.1 percent compared to 5.5 percent last year.
For the nine months of the financial year, the revenue was ₹2359 crore, growth of 23 percent 5 y-o-y, EBITDA was at ₹320 crore compared to ₹197 crore in 9M FY2021. EBITDA margin stood at 13.5 percent compared to 10 percent last year. The company reported PAT of ₹206 crore compared to ₹85 crore in 9M FY2021 and grew by 143 percent. The PAT margin stood at 8.7 percent compared to 4.4 percent previous year.
Vineet Agarwal, managing director, TCI stated, “The third quarter and 9 months into the current financial year have been encouraging and in line with the positive business momentum in the country. All service offerings have performed well both on top-line and bottom-line fronts.
The festive season added to the growth despite constraints in the Automotive sector due to the ongoing semiconductor shortage. Multi-modal logistics continued to gain strides especially our Coastal Shipping business performing exceptionally. TCI remains invested in Multi-modal business as it has a direct bearing on reduction in GHG emissions leading to a positive ESG compliance for all our clients.
We continue to witness an upward swing in demand for 3PL & Cold Supply Chain Solutions driven by technology enabled platform for fulfilment & customer service.
The importance of logistics in corporate board rooms, government investments in infrastructure and Atmanirbar Bharat all augur well for a strong integrated multimodal logistics player like TCI.