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Transport Corporation of India (TCI) has reported a net profit of Rs 13.44 crore for the quarter ended June 30, registering a 9.7 per cent growth against the corresponding period last fiscal.
income
The income from operations for the quarter is at Rs 415.91 crore, a growth of 5.71 per cent year-on-year.
The profitability of the company has gone up in the freight division, where despite a marginal dip in revenues, the profits have increased.
“This is because the truck freight rates have been lower in the first three quarters this fiscal and higher depreciation,” Mr Vineet Agarwal, Executive Director, TCI, told Business Line .
The margins have also gone up supported by express divisions.
“This improvement is primarily because of higher yields,” Mr Agarwal said. The results were announced on Thursday evening. On Friday, the scrip closed at Rs 92.25, down 4.21 per cent.
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