TCI records 8.44% operating margin

Kolkata: Transport Corporation of India (TCI), the leading integrated logistics and supply chain solutions provider, has recorded improved results, with operating margin having increased by 8.44 per cent to Rs 80.80 crore in 2007-08 from Rs 74.27 crore in 2006-07, according to company sources.

Net sales and income from operations on a standalone basis posted a growth of 18 per cent to invest Rs 1,181 crore (Rs 1,000 crore). The Board of Directors has recommended final dividend of 15 per cent which, together with an interim of 15 per cent, made the total 30 per cent, the same as the previous year.

For the first time, consolidated total income, incorporating the performance of one subsidiary and two joint ventures, was presented and it amounted to Rs 1,225 crore, with an operating margin of 90.01 crore.

Mr D.P. Agarwal, Vice-Chairman and Managing Director of TCI, in a statement observed that 2007-08 was eventful in the sense significant investments were made for creating new business units like XPS Air & Courier, TCI Global and the consolidation in high growth areas like TCI Supply Chain solutions.

An estimated 0.75 million sq ft of warehousing space was added during the year with a programme to add another one to two million sq ft every year till 2012. The company also expanded its global operations by opening offices in Hong Kong, Singapore and Indonesia in keeping with the vision to emerge as Asia’s premier integrated supply chain solutions provider.

“The group is celebrating its golden jubilee on completion of providing 50 years of transport and logistics solutions,” Mr Agarwal said.