Logistics solutions provider Transport Corporation of India (TCI) today reported a 12.54 per cent decline in standalone net profit at Rs 11.15 crore for the fourth quarter of 2011-12. It had posted a net profit of Rs 12.75 crore in the same period last year. Its total income stood at Rs 495.70 crore, up 3.50 per cent from Rs 478.96 crore in the same period last year.

“Adverse macro and microeconomic indications resulted in lower-than expected results on a standalone basis.

“In spite of visible slowdown in the economy, coupled with high interest rates, the company could achieve more or less similar results to that of last year,” TCI Joint Managing Director Vineet Agarwal said in a statement.

For the full year, standalone revenues saw a marginal growth of 4 per cent at Rs 1,828.98 crore over Rs 1,759.18 crore in FY11.

Its standalone PAT for the year stood at Rs 51.84 crore, which includes an exceptional provision of Rs 4 crore for losses in overseas joint venture or subsidiaries, against Rs 51.32 crore last year.

On a consolidated basis, TCI achieved a PAT of Rs 59.50 crore against Rs 50.13 crore, a growth of about 20 per cent. Revenues increased marginally by 5.53 per cent at Rs 1,955.29 crore against Rs 1,852.66 crore last year.

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