Net profit for Transport Corporation of India surged 38 percent from a year earlier to $3.3 million in the second quarter ending Sept. 30, despite an almost 25 percent increase in operating expenses.
Income from operations for the July-September quarter increased to $100 million from $81 million in the same quarter last fiscal year, the company said in a statement.
Operating income from the freight division totaled $45.7 million compared with $40.7 million in the year-ago period.
By The Numbers: U.S. Container Trade With India.
The express segment reported a $2 million operating profit against revenue of $26.6 million.
TCI, the country’s largest integrated supply chain and logistics services provider, posted net profit of $6 million in the first half of fiscal 2010-11, up 43 percent from $4.2 million a year earlier. Revenue increased 25 percent to $190 million from $152 million.
The Gurgaon-based company, with a fleet of over 6,000 trucks, has a pan-Indian distribution network serving nearly 13,000 locations across the country. For fiscal 2009-10 ended March 31, the company reported net profit of $9.3 million, up 52 percent from $6.1 million the previous year.