Comments
Our Bureau Cargo delivery and courier firm TCIExpress has registered a profit after tax of ₹18 crore for Q1 FY20, from ₹16 crore in the year-ago period.
Its revenue from operations was at ₹256 crore, up 3.5 per cent from ₹248 crore in Q1 FY19.
“The revenue growth was driven by an increase in customers from the SME sector. The margin improvement was attributable to operational efficiency and better working capital management,” said Chander Agarwal, Managing Director, TCIExpress, in a release.
The company is investing in sorting centres as a part of its long-term growth plan. The construction of sorting centres in Pune and Gurugram is expected to be completed by March 2020, and operations are expected to commence from the start of 2021.
TCIExpress closed at ₹577.35 on the BSE, down 0.53 per cent.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.