TVS Supply Chain Solutions reports net profit at Rs 5.4 crore in Q4

TVS Supply Chain Solutions Ltd, one of the largest and fastest-growing integrated supply chain solutions providers in India, has posted a consolidated net profit of Rs 5.4 crore for the fourth quarter of the financial year 2023-24. This was compared to a net loss of Rs 9.4 crore during the corresponding quarter in 2022-23.

The company posted a 4.5 per cent year-on-year increase in revenue from operations to Rs 2,426 crore during the quarter ended March 31, 2024, as against Rs 2,321 crore in the same period last year.

For the financial year 2023-24, the company reported a loss after tax of Rs 57.7 crore, compared to Rs 47.7 crore a year ago. For the year, its revenue stood at Rs 9,200 crore, down 7.9 per cent from Rs 9,994.4 crore in 2022-23.

Ravi Viswanathan, managing director, TVS Supply Chain Solutions Ltd, said, “The quarterly and annual results reflect the consistent growth in the ISCS segment and strong resilience, despite major headwinds, in the NS segment. We have made considerable progress in our cross-selling and customer acquisition strategy and significantly expanded our footprint within the Fortune 500 customers’ segment. Our technology-led solutions are differentiating us in the marketplace as we embark on deploying AI at scale in our customer engagements across the USA, Europe and India.”

He further added, “We are continuously strengthening our organisation with process and technology to capitalise on growth opportunities and remain confident of our healthy business development pipeline, which will drive further growth in FY25.”

Commenting on the performance, Ravi Prakash Bhagavathula, global CFO of TVS Supply Chain Solutions Ltd, said, “Our financial performance for Q4 FY24 is a result of the continuous cost optimisation, digitisation and operational efficiency measures, which has driven the margin expansion by 80 basis points, and realisation of the full benefits of the debt reduction efforts of the company. These measures have laid the essential foundation as we pursue our medium-term goals.”