Logistics firm TCI Express today reported a 33 per cent rise in its net profit at Rs 16.12 crore for the April-June quarter this year.
The company had posted a net profit of Rs 12.12 crore in the year-ago period, TCI Express said in a BSE filing.
Its total income from operations (net) during April-June quarter increased to Rs 248.10 crore from Rs 203.63 crore in the same a year ago.
TCI Express Chief Executive Officer (CEO) P C Sharma said government initiatives like introduction of Goods and Services Tax (GST), E-way Bill and giving infrastructure status to logistics sector has given a boost to the organised logistics industry.
"It also helped us in getting a good result. Now the customers go to the organised players who have GST number which helps in making hassle-free deliveries. Customers do not go to the unorganised players who don't comply with rules and evade taxes," he said.
TCI Express is a leader in domestic express logistics industry. It makes deliveries to more than 40,000 locations in India and abroad.
Shares of the company today ended 0.47 per cent up at Rs 634.55 apiece on BSE.
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