Transport Corporation of India reported a revenue growth of 7.8% and said the company is expecting to deliver double-digit profit and revenue growth this year in the wake of the introduction of the Goods and Services Tax.
The GST, which simplifies the sales tax regime in India, is expected to give a major boost to interstate commerce, including online retail.
Logistics firms like TCI will be major beneficiaries of any big growth in the ecommerce sector.
However, for the first quarter, the company’s profit grew to Rs 15.11 crore compared 14.25 crore last year, an increase of 6%.
EBITDA rose by 11.7% to Rs 40.16 crore from Rs 35.94 crore whereas revenue grew to 429.74 crore from Rs 398.83 crore.
The growth during the Apr-June quarter was due to increased demand for some consumption based industries, auto sector and also due to addition of new clients for their warehousing, 3PL, Ecommerce and Chemicals logistics services said Vineet Agarwal, Managing Director.
TCI Group is one of India’s leading integrated supply chain and logistics solutions provider.
