Profit for Transport Corp. of India, the country’s largest integrated supply chain and logistics services provider, surged by about 95 percent to $2.33 million in the second quarter ending Sept. 30.
The strong gain follows a rather modest performance in the previous fiscal year ended March 31 and also during the first quarter of fiscal 2009-10.
Income from operations for the July-September quarter totaled $77.5 million, up 5.5 percent from $73.5 million in the same quarter in 2008-09.
Net profit for the first half rose 63 percent to $4 million from $2.5 million, while revenue increased to $145.6 million from $142.3 million in the year-ago period.
“The growth in overall business and profitability has been in line with our expectations due to stable market conditions and increased optimization and cost control measures adopted across all divisions,” the company said.
As part of a global expansion program, Gurgaon-based TCI recently established offices in Singapore, Hong Kong, Indonesia, China, Germany, Netherlands and Mauritius.
The company, with a fleet of over 6,000 trucks, has a pan-Indian distribution network serving nearly 13,000 locations across the country.