Logistics provider Transport Corporation of India (TCI) today said its profit after tax (PAT) grew 29 per cent to Rs 25.6 crore for the quarter ended September 30, 2017.
TCI had clocked a PAT of Rs 19.7 crore in the corresponding quarter previous fiscal.
The company said its total revenue grew by 16.6 per cent to Rs 527.4 crore during the quarter as against Rs 452.3 crore in the year-ago period.
Commenting on the earnings, Company MD, Vineet Agarwal said, "This quarter performance witnessed good growth despite the various hurdles in GST implementation across the value chain. We attribute this to company's continuous focus on high margin businesses and multi-modal solutions by harnessing synergistic benefits from rail, road & sea and providing specialised integrated supply chain solutions."
Agarwal said it has been three months since GST implementation and the new tax regime has been well embraced by some of industry verticals, while few other organised, unorganised and SME sectors have got slow start which is witnessed in economic activities this quarter.
He added, "We looked at GST readiness as an opportunity to stand out from rest of the industry as in supporting customers and suppliers. We expect second half of the year to be better given the trend of higher business volume."
Shares of Transport Corporation of India settled at 281.10, up 1.61 per cent on BSE today.
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