Transport Corporation of India Ltd., recorded a 16.36% y-o-y growth in consolidated income at INR 3812 crores and the net profit increased by 9.48% at INR 321 Crores for the year ending 31st March, 2023. The company also gave a decent standalone performance with a growth of 18.96% y-o-y at INR 3492 crores and saw the net profit grow by 13.49% at INR 304 crore.
In Q4 & FY2023, we have forged ahead with decent momentum across all service segments. The uptrend in the mobility sector, continued government and private capex and steady consumption trends have helped all our businesses.Mr. Vineet Agarwal, Managing Director, TCI
“Team TCI continues to achieve value for our customers through a solutions-based approach in India and the neighbouring countries. Our rail and coastal multimodal services witnessed growing demand with GHG emissions savings as a clear goal. The implementation of control towers, ULIP integration and various other digital transformation initiatives have enhanced our service offerings,” Agarwal added.
The company with its recent launch of TCI-IIMB Supply Chain Sustainability Lab in collaboration with IIM Bangalore has further cemented its commitment to sustainability. The lab aims to assist the corporates & the logistics industry in their net-zero journey.
The coming quarters will be impacted due to multiple domestic and global factors. However, the India story remains stable with continued investments in infrastructure projects. With various FTAs and PLI schemes boosting exports and manufacturing, India will become an important base in the global supply chains and move further up in the LPI index rankings. TCI remains committed to play its role by making necessary investments in ships, trains, containers, and green warehousing.