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Transport Corp Q3 profit falls 16 pct

Posted on Jan 30, 09:52AM | IBNS

New Delhi, Jan 29 : Integrated supply chain and logistics solutions provider Transport Corporation of India (TCI) on Tuesday reported a 16 percent dip in its net profit for the third quarter of the current financial year.

Profit after tax for the quarter ended December 2012 fell to Rs 11.34 crore from Rs 13.48 crore a year earlier, TCI said.

The company's total revenue however registered a growth of 5.33 percent rising to Rs. 491.91 crore from Rs. 467 crore in the corresponding period last year.

It has registered a decline in EBITDA margin for the period to Rs. 34.25 crore from Rs. 38.56 crore in the corresponding quarter last year due to prolonged economic slowdown and tight liquidity conditions.

TCI's total revenue for the nine month period ended December 31, 2012 rose by 6.41 percent to Rs. 1,421.71 crore from Rs. 1,336.08 crore in the corresponding period ended Dec 31, 2011.

The company's PAT at Rs. 38.08 for the nine month period ended December 31, 2012 crore was also lower than Rs. 40.68 crore in the corresponding period ended December 31, 2011.

TCI Board of Directors has decided to pay interim dividend to shareholders at 20 percent per share whose entitlement shall be decided on the basis of record date -- February 4, 2013 fixed in due consultation with stock exchanges.