Chennai: TCI Express Ltd recently announced its financial results for the quarter ended on 31 December 2019. The company said, revenue from operations was Rs 268 crores in Q3 FY2020 from Rs 263 crores in Q3 FY2019, growth of 2 per cent.
Commenting on the performance, MD, Chander Agarwal said, ‘I am pleased to report that TCI Express has delivered a resilient performance in the quarter despite a weak macroeconomic environment impacting major sectors of the economy. Revenue from operations were Rs 268 crores in Q3 FY2020, an increase of 2 per cent on Y-o-Y basis compared to Q3 FY2019. The company delivered an Earnings before interest, tax, depreciation and amortization (EBITDA) of Rs 35 crores, growth of 11.2 per cent and margins expanded by 107 bps to 13.1 per cent during the same period.’
He added, ‘Profit after-tax was Rs 26 crores in Q3 FY2020, representing an increase of 36.4 per cent on Y-o-Y basis, with margins of 9.5 per cent. The revenue growth was driven primarily by increase in Small and Medium Enterprises (SME) customers. The margin improvement is a result of operational efficiency initiatives and better working capital management.’