Quarterly Results: Transport Corporation of India Ltd

Technical View: 

Transport Corporation of India Ltd., is currently trading at Rs. 185, down by 0.3 points or 0.16% from its earlier closing of Rs. 185.3 on the BSE.

The scrip has touched a high and low of Rs. 190 and Rs. 182.5 respectively, after opening at 190. Altogether 67202 (NSE+BSE) shares were traded on the counter; and the stock is currently trading above its 50 DMA.

Standalone Results Q2FY17: (Rs. in crore)


***EBITDA margin change in bps

Street estimates have been beaten by Transport Corporation of India in its Q2FY17 numbers. Revenue hascame in 2.9% above our estimate of Rs 438 cr. EBITDA margin is greater by 50 bps from the estimate of 9.1%. Also net profit is 19.5%  above the estimated figure of Rs 17 cr.

The quarter's revenue has surged 13.6% yoy to Rs 450 cr primarily due to 21.2% and 20.6% yoy rise in revenues from supply chain solution and seaway divisions respectively.

TCI's reported EBITDA has surged by 34.7 % yoy to Rs 43 cr while EBITDA margins have extended 150 bps yoy to 9.6% owing  to operational efficiency.

The company's net profit has reduced 17.7% yoy to Rs 20 cr majorly attributed to 70.6% yoy decline in other income and 17.6% yoy upsurge in finance cost.