ITLN
Logistics

TCIEXPRESS caps bullish FY2017-18 with positive Q4 results, revenue grows at 23.18% 

June 12, 2018: TCIEXPRESS has announced its financial results for the Q4 and 12 months ending March 31st 2018 following its board meeting held recently. The company has consistently showcased robust growth in FY2017-18, ending with positive Q4 numbers which indicate a successful year for TCIEXPRESS.

TCIEXPRESS caps bullish FY2017-18 with positive Q4 results
X
TCIEXPRESS caps bullish FY2017-18

June 12, 2018 : TCIEXPRESS has announced its financial results for the Q4 and 12 months ending March 31st 2018 following its board meeting held recently. The company has consistently showcased robust growth in FY2017-18, ending with positive Q4 numbers which indicate a successful year for TCIEXPRESS.

The company’s net Q4 revenue showed robust growth of 23.18 percent to Rs 249.94 crores, while the EBITDA stands at Rs 29.01 crores with a growth of 52.44 percent over last year. The increase in revenues increased the company’s PAT to rise by 49.42 percent during the quarter, when compared to the same period last year. The impressive revenue and growth figures in Q4 are reflections of the company’s strong fundamentals, which were reflected in their stellar annual figures as well. Net revenues for FY 2017-18 increased by 18.03 percent to Rs 887.16 crores, while EBITDA for FY 2017-18 stands at Rs 92.73 crores with a growth of 46.56 percent last year. PAT also jumped to Rs 58.40 crores for FY 2017-18 over FY 2016-17, showing 55.76 percent growth over FY 2016-2017.

The company was able to showcase such impressive growth by leveraging its broad branch network of over 650 centres across the country through its Hub and Spoke network. Being a category leader with the fastest express service in India, made is possible to win customer confidence.

On the back of this sustained growth, the company has recommended a final dividend @25 percent (Rs 0.50 per equity share on face value of Rs 2 per share) for approval of shareholders in ensuing AGM. The total dividend for the year, including interim dividends, is @125 percent (Rs 2.50 per equity share on face value of Rs 2 per share.

Commenting on the results, Chander Agarwal, managing director, TCIEXPRESS, said, “As the market became more accustomed to GST, many prominent clients found the perfect partners in us to help them unlock the potential of this transformative regulatory regime. The sector has been in flux in the past as it is unorganized but now all the indicators are bullish and our best-in-class services have enabled us to offer seamless service to our customer that is entirely unmatched. We are pleased with our results and we have played a role in India’s growth story, while creating better value for our customers and shareholders.”

TCIEXPRESS has been able to take advantage of an improved regulatory framework, which in addition to passing the GST reform and E-way billing system has also included the logistics sector in the Harmonised List of Infrastructure Subsectors. These reforms are expected to enhance credit flow to the sector, while streamlining the regulatory process involved in setting up multi-modal logistics facilities for both storage and transport infrastructure. Major infrastructure developments and projects are expected to create new demands in the logistics sector.

The company in its press release added that with the “Make in India” initiative boosting manufacturing in India and the logistics sector working to integrate IT infrastructure into its systems to enhance service delivery, EXIM cargo, pharmaceuticals, textiles, auto and auto ancillary, SMEs, agriculture, etc. are segments that are expected to drive greater demand for express cargo in India in the foreseeable future.

The release further says that TCIEXPRESS, with its widespread branch network operated on a high-efficiency hub-and-spoke model and is perfectly poised to provide express time-definite logistics services to these burgeoning sectors, with its best-in-class geographical footprint and service area.

Next Story
Share it