Multimodal logistics service provider Transport Corporation of India (TCI) today said it has incorporated its wholly-owned subsidiary Stratsol Logistics.
"We have successfully incorporated a wholly owned step- down subsidiary by the name, "Stratsol Logistics Private Limited" on 22nd November, 2017 in New Delhi," the company said in a filing to BSE.
The logistics provider's has recently reported a 29 per cent rise in profit after tax (PAT) to Rs 25.6 crore for the July-September quarter.
TCI had clocked a PAT of Rs 19.7 crore in the same quarter previous fiscal.
The company's total revenue grew by 16.6 per cent to Rs 527.4 crore during the quarter as against Rs 452.3 crore in the year-ago period.
Commenting on the earnings, company's MD, Vineet Agarwal had said, "This quarter performance witnessed good growth despite the various hurdles in GST (Goods and Services Tax) implementation across the value chain".
"We attribute this to company's continuous focus on high margin businesses and multi-modal solutions by harnessing synergistic benefits from rail, road and sea and providing specialised integrated supply chain solutions," Agarwal added.
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