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TCI Express Q2 net profit rises 60 pc to Rs 26 cr

Press Trust of India  |  New Delhi 

Logistics services provider TCI Express Ltd on Monday posted a 60 per cent rise in net profit at Rs 26.10 crore for the quarter ended September 30.

The company had posted a net profit of Rs 16.27 crore in the year-ago period, TCI Express Ltd said in a BSE filing.

Its net sales or income from operations in the July-September period increased to Rs 269.47 crore, over Rs 247.20 crore in the year-ago period, the filing said.

"Profit after tax was Rs 26 crore in Q2 FY2020, representing an increase of 60.6 per cent on y-o-y (year-on-year) basis, with margins of 9.6 per cent," the company's Managing Director Chander Agarwal said,

"The revenue growth was driven by increase in small and medium enterprises (SMEs) customers. The margin improvement was attributable to operational efficiency and better working capital management," he added.

The company, he said, has expanded its geographical presence and opened 15 new branches in the quarter adding that the objective is to go deep in the metro cities and tap more and more SME customers.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 04 2019. 19:25 IST