Chennai: TCI Express Ltd, a market leader in express distribution, recently announced its financial results for the quarter ended on 30 September 2019.
A press release said, revenue from operations of Rs 271 Crores in Q2 FY2020 from Rs 248 Crores in Q2 FY2019 with a growth of 9.3 per cent. Commenting on the performance, managing director Chander Agarwal said, “The Company delivered an EBITDA of Rs 32 crores, growth of 15.1 per cent and margins expanded by 60 bps to 11.9 per cent during the same period.”
He added, “Profit after tax was Rs 26 crores in Q2 FY2020, representing an increase of 60.6 per cent on Y-o-Y basis, with margins of 9.6 per cent. The revenue growth was driven by increase in Small and Medium Enterprises (SME) customers. The margin improvement was attributable to operational efficiency and better working capital management.”