Logistics

TCIExpress posts ₹18-cr Q1 profit

New Delhi | Updated on July 30, 2019 Published on July 30, 2019

Cargo delivery and courier firm TCIExpress has registered a profit after tax of ₹18 crore for Q1 FY20, from ₹16 crore in the year-ago period.

Its revenue from operations was at ₹256 crore, up 3.5 per cent from ₹248 crore in Q1 FY19.

“The revenue growth was driven by an increase in customers from the SME sector. The margin improvement was attributable to operational efficiency and better working capital management,” said Chander Agarwal, Managing Director, TCIExpress, in a release.

The company is investing in sorting centres as a part of its long-term growth plan. The construction of sorting centres in Pune and Gurugram is expected to be completed by March 2020, and operations are expected to commence from the start of 2021.

TCIExpress closed at ₹577.35 on the BSE, down 0.53 per cent.

Published on July 30, 2019
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