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Transport Corporation of India (TCI) – the logistics major -- has registered a one per cent growth in net profit year-on-year in the first quarter of current fiscal, despite a 9.9 per cent topline growth. The net sales in April-June were at Rs 457 crore, while net profit was at Rs 13.58 crore. The company’s topline has gone up due to new customers in the supply chain solutions division and express segment. But the profitability has dipped in freight division, the division which accounts for over 40 per cent of revenues. “Freight division reflects the slowdown in general economic growth climate. Moreover, we are avoiding customers who are not paying on time,” Mr Vineet Agarwal, Joint Managing Director, told Business Line . The sectors where TCI has acquired customers are automobile spare parts and pharmaceuticals.
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