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TCI Express shares give up gains despite record quarterly revenue and flat margins

TCI Express shares give up gains despite record quarterly revenue and flat margins

TCI Express shares give up gains despite record quarterly revenue and flat margins
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By CNBCTV18.com Nov 1, 2022 1:06:36 PM IST (Published)

It expects the new value-added services to contribute to a quarter of the overall topline by 2025.

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TCI Express Ltd., the market leader in express logistics, managed to maintain margins despite a high operating cost environment.


The company said that revenue from operations during the quarter stood at Rs 310 crore, up 13.3 percent year-on-year, and was the highest in a quarter. Revenue growth was primarily driven by demand from both corporate and SME customers, higher volume across services, and better internal operational efficiencies.

Operating profit or EBITDA grew 14 percent y-o-y to Rs 51.5 crore compared to Rs 45.3 crore in the year-ago quarter. EBITDA margin remained unchanged from last year at 16.6 percent

The company’s net profit rose 11 percent year-on-year to Rs 37.8 crore as against Rs 34 crore in the year-ago quarter.

The company managed to maintain margins due to the automation of sorting centers, increasing the daily capacity by reducing parcel handling time, vehicle halting time, and labor involvement, thereby improving the overall operational efficiency.

A total Capex of Rs 50 crore was incurred during the first half of the year for acquiring a land parcel in Kolkata to set up an automated sorting centre. It also added 22 new branches during the first six months of the current financial year.
TCI Express' board also approved an interim dividend of Rs 3 per share. It expects the new value-added services to contribute to a quarter of the overall topline by 2025.
Shares of TCI Express are trading little changed at Rs 1,894.30, as of 1 PM.
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