Trucking and logistics giant Transport Corp. of India reported its net income in the third fiscal quarter, which ended Dec. 31, 2013, was $2.3 million, jumping 27 percent year-over-year from $1.8 million.
Quarterly revenue climbed 4 percent from a year earlier to $82.4 million, the company said in a written statement.
TCI’s operating income from its core freight division was $31 million, slipping slightly from $31.4 million in the same period of 2012. Income from the express segment totaled $25 million, up 8 percent from $23 million.
Operating expenses during October to December rose 4 percent year-over-year to $78 million.
The company’s net profit in the first three quarters of fiscal year 2013-14 (April to December) was $6.6 million, increasing 8 percent over the corresponding period in 2012. Total revenue in the nine-month period was $239 million, up 5.5 percent from $227 million.
TCI currently operates a fleet of roughly 6,000 trucks and four cargo ships for coastal shipping, supplemented by a pan-Indian distribution network covering about 13,000 locations. The Gurgaon-based group owns about 9.75 million square feet of warehouse space at various locations in the country and generates approximately $400 million in annual revenue.