TCI Express is a prominent player in the express logistics industry providing Door-to-Door express distribution services.
Presenting her second Union Budget, Sitharaman announced a slew of measures for the benefit of farmers. "To build a seamless national cold supply chain for perishables, the Indian Railways will set up Kisan Rail through PPP model so that perishable goods can be transported quickly," she said.
Meanwhile, in October-December quarter (Q3FY20), TCI Express delivered earnings before interest, tax, depreciation and amortisation (EBITDA) of Rs 35 crore, a year-on-year (YoY) growth of 11.2 per cent and margins expanded by 107 bps to 13.1 per cent during the same period. Net profit grew 36 per cent at Rs 26 crore, while operational revenue up marginally by 2 per cent at Rs 268 crore on YoY basis.
The management said the revenue growth was driven primarily by increase in Small and Medium Enterprises (SME) customers. The margin improvement is a result of operational efficiency initiatives and better working capital management.