Transport Corporation of India reports 4% revenue increase in half year results

Transport Corporation of India Ltd., an Indian integrated supply chain and logistics solutions provider, has announced its financial results for the quarter ended September 30, 2011. During the first half of the year, revenues grew by approximately 4%. Higher interest incidence and increased costs, due to higher fuel prices, have led to a muted profit after tax over the previous year; (1.59% increase).

On the results, Vineet Agarwal, Managing Director of TCI said, "Since logistics is a bell weather of the economy, we are observing a slowdown with respect to the manufacturing sector. Volume growth is lower over the previous years in almost all sectors as inventory over previous quarters got absorbed into the system.

"With domestic credit conditions becoming dearer, business outlook for the next few months will be challenging. However, with domestic growth story being intact, the scenario should improve in the coming six months. TCI takes this as an opportunity to consolidate its operations by focusing on improving internal systems and processes to mitigate any adverse impact on overall working."

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