TCI Express plans Rs. 400 crore expansion
Tanay Loya / 13 Oct 2017
Logistics-major TCI Express Ltd has laid out a Rs. 400 crore expansion plan over the next five years. The company plans to scale up its IT network and modernise its existing 28 sorting centres across the country.
Logistics-major TCI Express Ltd has laid out a Rs. 400 crore expansion plan over the next five years. The company plans to scale up its IT network and modernise its existing 28 sorting centres across the country.
"We are confident of the burgeoning Indian economy and the reforms such as GST to boost the business prospects. Operational efficiency and digital infrastructure will be our growth driver," said Chander Agarwal, MD of TCI, to leading news daily.
The company is expecting that the investment will scale up the company's revenues to Rs. 4,000 crore in the next five years from Rs. 754 crore in 2016-17.
The company reported Q1FY18 revenues of Rs. 204 crore, up 15 per cent YoY, while net profit stood at Rs. 12.12 crore, up 74 per cent.
At 2:20 pm, TCI Express was trading at Rs. 595.30, up by Rs. 83.2 or 16.25 per cent from its previous closing price of Rs. 512.10. The scrip opened at Rs. 522.35 and touched a high and low of Rs. 608.65 and Rs. 519.85, respectively. The stock attracted a traded volume of 42,033 shares on the BSE.
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