TVS Supply Chain Solutions Limited, the Chennai-based global supply chain solutions provider, reported reduced net profit of ₹10 crore for the third quarter ended December 31, 2024 against ₹17 crore for the corresponding quarter in the previous year.
However, the company that reported a net loss of ₹22 crore in the second quarter, returned to profit mode in the third quarter of the current fiscal. Revenue in the third quarter of the current fiscal fell by 6 per cent to ₹2,222 crore (₹2,373 crore).
Promoted by the erstwhile TVS Group and now part of TVS Mobility Group, TVS Supply Chain Solutions provides specialised solutions spanning the entire value chain from sourcing to consumption, to reduce complexity in its customers’ supply chains by using technology, data analytics and execution experience.
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Ravi Viswanathan, Managing Director, TVS Supply Chain Solutions Ltd, said, “Our business development efforts continue to deliver results as expected and we see positive demand drivers across our geographies. We are confident in overcoming external challenges in global freight and growing our business profitably.”
The company’s board on Monday approved the draft Scheme of Amalgamation that provides for the merger of TVS SCS Global Freight Solutions Limited, White Data Systems Private Limited, SPC International (India) Pvt Ltd and FLEXOL Packaging (India) Ltd - wholly owned subsidiaries of the company - and Mahogany Logistics Services Private Limited with and into TVS Supply Chain Solutions Limited, says a release.
The company’s stock price on the BSE closed at ₹191.35, down by 0.93 per cent.