TCIEXPRESS reports 21.84% revenue growth in Q1

TCIEXPRESS announced its financial results for the Q1 of FY 2018-19. The company?s Q1 revenue reflected a robust growth of 21.84 per cent and at Rs 248.10 crore. The EBITDA stands at Rs 27.46 crore, registering a growth of 45.14 per cent YoY. Further, the PBT during the first quarter also rose sharply by 44.22 per cent.

While TCIEXPRESS?s services, especially its surface express service and its strong B2B customer engagement have been the dominant forces behind the stellar beginning to the year, the management also credits policy level changes such as GST and e-way bills as significant contributors to its success.

Commenting on the same, Chander Agarwal, Managing Director, TCIEXPRESS, said, ?The introduction of GST, e-way bills and the inclusion of logistics in the ?harmonised list of ?infrastructure? status sub-sectors has given a definite boost to the organised players in this domain. These reforms have accelerated the credit flow to the sector, and has allowed us to grow and diversify our operations through the introduction of various technological and infrastructural level innovations. The policy level changes have directly aligned with our efficiency focused hub-and-spoke model, which would otherwise meet several roadblocks in the erstwhile dual and inefficient tax mechanism. As logistics becomes an integral part of operations across industries, we hope to provide express time-definite logistics services to a wide range of businesses, and sustain the bullish growth phase we are experiencing currently.?