Latest News | TCI Express' Net Profit Jumps 124 Pc to Rs 43 Cr in Mar Quarter

New Delhi, May 19 (PTI) TCI Express Ltd on Wednesday reported a 123.9 per cent rise in net profit at Rs 42.57 crore for the quarter ended March 31.

The company had posted a net profit of Rs 19.01 crore in the year-ago period, TCI Express said in a filing to the BSE.

Its net sales in January-March 2021 increased to Rs 279.80 crore, compared with Rs 237.94 crore in the year-ago period, the filing said.

"The fourth quarter of FY2021 was the one of the best quarter, as the company delivered growth in revenues coupled with significant improvement in margins and profitability.

"I am particularly pleased to close an otherwise challenging year with a strong quarterly performance," TCI Express Ltd Managing Director Chander Agarwal said.

He added that during the quarter, the company saw a recovery in the Index of Industrial Production, especially in March, where its key servicing industries registered a robust growth on both sequential as well as y-o-y basis thereby driving volumes.

"We also saw a strong pick-up in business activity with e-way bill collections increasing by 28 per cent on y-o-y and 13 per cent on q-o-q basis," Agarwal said. HRS hrs

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