Transport Corporation of India Limited Net up by 20% to Rs 51.32 cr

Transport Corporation of India Ltd, India’s leading integrated supply chain and logistics solutions provider, today announced its financial results for the Quarter ended March 31, 2011. In synchronization with the projections, the company registered a jump of 20% in net profit , which increased to Rs 51.32 crore in FY11 from Rs 42.98 crore in the corresponding period last year for the standalone entity.

During the year, EBITDA margin increased from Rs. 113.98 crore to Rs 137.54 crore over last year resulting in growth of over 20% in absolute terms. Also the PBT (after exceptional Items) rose by 23.71% i.e., to Rs 80.05 crore from Rs 64.71 crore in the same quarter last year.

Commenting on the buoyant results, Mr DP Agarwal, Vice Chairman & Managing Director TCI said, “We have performed well in this year owing to our aggressive growth plans. The logistics industry in India is gradually maturing and we are pulling all strings to capitalise on the emerging opportunities. As one of the oldest domestic company we have an edge over other companies in local know how, reach & experience. We are looking forward to good growth in the coming months and will continue to leverage on the strength of our widespread network and providing value added services to a strong customer base across India.”

Keeping in view the overall performance of Group TCI, the Board of Directors have recommended payment of final dividend at 25%, if declared by the shareholders in the ensuing Annual General Meeting of the Company. This is in addition to the Interim Dividend already paid at 20% during the year.