JOC Staff | Jun 05, 2012 10:01AM EDT
Transport Corporation of India said its net profit rose 19 percent year-over-year to $10.8 million on a consolidated basis in fiscal 2011-12, which ended March 31, despite a 5 percent increase in operating costs.
TCI’s group revenue from its overall operations increased 5.5 percent year-over-year to $356 million, including $143 million from the "freight division", $106 million from the "supply chain solutions" segment and $90 million from the "express division".
Operating profit from the supply chain solutions division surged about 30 percent year-over-year to $9.2 million.
“In spite of visible slowdown in the economy, coupled with high interest rates, the company could achieve positive results on a consolidated basis,” officials said.
Operating expenses for the full fiscal year totaled $335 million compared with $318 million in 2010-11.
The company’s consolidated net profit for the last quarter fell 18 percent to $2 million from $2.5 million a year earlier. Total income from January through March increased 6 percent to $90 million from $84.5 million
TCI, the country’s largest integrated supply chain and logistics services provider, operates a fleet of more than 6,000 trucks and five cargo vessels for coastal shipping, supplemented by a pan-Indian distribution network covering nearly 13,000 locations.
