Domestic logistics major, Transport Corporation of India (TCI) has reported a major jump in its critical financial numbers in 2018-19. Announcing its annual report recently, the company reported its consolidated revenue rising to Rs 2773 crore as against Rs 2364 crore registered in 2017-18. This marks a jump of 17.3 percent over last year. Interestingly, its PAT number has also grown by 17.3 percent – from Rs 123 crore in FY 18 to Rs 145 crore in FY19.
Commenting on the performance, Vineet Agarwal, Managing Director TCI stated, “All the businesses have executed our strategy as planned which has resulted in increased growth in revenue and profitability. In an environment which witnessed softening of economic indicators, sluggish demand and higher input costs in the last quarter of the year, we have managed to grow our revenue and gross margins. Investments in new customer segments, prudent cost control measures, technological initiatives have led to business growth and operational efficiencies.”