Emboldened by the impressive financial numbers in the first quarter, domestic logistics major Transport Corporation of India (TCI) has set a high target of 20 percent topline and bottomline growth in 2018-19. The company recently announced its Q1 results which earmark a growth ofr 18.5 percent in its revenue – from Rs 498 crore in the first quarter last year to around Rs 490 crore now. Its profit before tax (PBT) figure shot up to Rs 35 crore in Q1 as against over Rs 23 crore in the same period last year.
Commenting on the results, Vineet Agarwal, Managing Director, TCI, said, “ TCI has sustained its growth momentum in the arena of multimodal logistics and supply chain solutions, assisted by buoyancy in the industrial and consumer sectors and government initiatives like GST. We are leveraging cutting-edge IT solutions across all our divisions and creating deeper customer connects.” He further added, “With a strong pipeline of business opportunities, the company is well positioned to deliver on its guidance of a full year growth of 20% in top line and bottom line.”