Transport Corp announces 2nd interim dividend, net profits up 94% YoY in Q3FY22

New Delhi, Jan 29 (IANS) The integrated supply chain and logistics solutions provider, Transport Corporation of India (TCI) has announced the second interim dividend of Rs 2 per share for its investors.

Besides, the logistics service provider reported a 94 per cent rise in its net profits at Rs 78 crore during Q3FY22. In the same period last fiscal, the net profits were Rs 40 crore.

EBITDA during the quarter increased to Rs 114 crore, up 36 per cent compared to Rs 84 crore during the year ago period, the company said in a statement.

Revenue from operations grew 6.2 per cent year-on-year at Rs 759 crore.

"The third quarter and nine months into the current financial year have been encouraging and in line with the positive business momentum in the country. All service offerings have performed well both on top-line and bottom-line fronts," said Vineet Agarwal, Managing Director of TCI.

"Multi-modal logistics continued to gain strides especially our Coastal Shipping business performing exceptionally. TCI remains invested in Multi-modal business as it has a direct bearing on reduction in GHG emissions leading to a positive ESG compliance for all our clients."

The company continues to witness an upward swing in demand for driven by technology-enabled platforms for fulfilment and customer service.

With over six decades of experience, TCI has an extensive network of company owned offices -- 12 mn.sq.ft. -- of warehousing space.