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Transport Corporation of India Results: Latest Quarterly Results & Analysis

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Transport Corporation of India Ltd. 29 Oct 2025 16:36 PM
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Q2FY26 Quarterly Result Announced for Transport Corporation of India Ltd.

Surface Transportation company Transport Corporation of India announced Q2FY26 results

  • Revenue: TCI reported a consolidated revenue of Rs 12174 million, marking a growth of 8% compared to Rs 11314 million in Q2FY25.
  • EBITDA: The Company’s Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at Rs 1624 million, a 7% increase from Rs 1519 million in Q2FY25.
  • Profit after Tax (PAT): PAT rose by 6% to Rs 1135 million, compared to Rs 1073 million in Q2FY25.

Vineet Agarwal, MD - TCI, said: “We are pleased to report a steady Q2 performance, driven by strong demand across auto, FMCG, and consumer durables, reflecting the strength of our strategy, operational efficiency, and effective execution. All product segments/divisions have performed satisfactorily.

The implementation of GST 2.0 has brought much-needed clarity in compliance and simplified taxation, enabling smoother logistics operations. Early signs of improved affordability and faster fulfilment are already visible, further supported by festive season demand across key consumption categories.

In response to this uptick, we expanded our warehousing footprint and continued to invest in automation, smart multimodal assets. Our rail and coastal multimodal Logistics offering continues to scale up, delivering efficient, high-capacity, and green logistics across long-haul routes."

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Surface Transportation company Transport Corporation of India announced Q1FY26 results

  • Revenue: TCI reported a consolidated revenue of Rs 11,506 million, marking a growth of 9% compared to Rs 10,560 million in the same period last year.
  • EBITDA: The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at Rs 1,520 million, a 11.9% increase from Rs 1,358 million in FY2024.
  • Profit After Tax (PAT): PAT rose by 17% to Rs 1,072 million, compared to Rs 916 million in the previous year.

Vineet Agarwal, Managing Director of Transport Corporation of India (TCI), said: “We are pleased to report solid progress in the first quarter of FY 2025–26, driven by steady growth across our multimodal, warehousing, 3PL and cold chain verticals. Despite mixed sectoral trends in the economy, our integrated service offerings and customer-centric approach have enabled us to maintain noteworthy operational momentum.”

The manufacturing sector’s revival, particularly in chemicals, engineering and consumer goods, has positively impacted demand for reliable, scalable and sustainable logistics solutions. TCI’s continued investments in multimodal infrastructure, upskilling, AI based SOPs and green logistics have positioned us well to deliver the diverse supply chain solutions that meet the scale of India’s evolving logistics requirements.

With continued infrastructure push and steady influx of global players driving multifaceted manufacturing growth, we anticipate a robust order pipeline in the coming quarters. “We remain committed to delivering value through innovation, strategic partnerships, sustainability and operational excellence in serving our customers with agility and efficiency.”

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Surface Transportation company Transport Corporation of India announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue: TCI reported a consolidated revenue of Rs 11,972 million, marking a growth of 9.3% compared to Rs 10,954 million in the same period last year.
  • EBITDA: The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at Rs 1,401 million, a 11.3% increase from Rs 1,259 million. in FY2024.
  • Profit After Tax (PAT): PAT rose by 11.4% to Rs 1,151 million, compared to Rs 1,033 million. in the previous year.

FY25 Financial Highlights:

  • Revenue for the year ended March 31, 2025, was Rs 45,385 million, compared to Rs 40,700 million for the year ended March 31, 2024, indicating a growth of 11.5%.
  • EBITDA for FY25 amounted to Rs 5,078 million, an increase of 11.3% from Rs 4,563 million in FY24.
  • PAT for FY25 was Rs 4,161 million, representing a growth of 17.4% compared to Rs 3,545 million in FY24.

Vineet Agarwal, MD - TCI, said: "FY2025 has been a year of systemic growth at TCI. Despite global uncertainties and evolving supply chain dynamics, our focus on multimodal integration, sustainability and digitalisation have propelled decisive advancement.”

Driven by consumption lead warehousing demand, spanning quick commerce, retail and consumer durables sectors, we also strengthened our niche logistics and multimodal solutions for bulk goods, heavy machinery & large equipment. By deploying smart assets in rail and coastal transport we have deepened our capabilities with high-capacity 40-foot, 40-tonne containers, fixed chassis units and ISO containers, ensuring efficiency and scalability in operations.

Sustainability remains intrinsic to our innovation roadmap, marked by the induction of EV and LNG trucks in our fleet and the transition to renewable energy-powered warehousing. The TEMT tool, developed by the TCI-IIM Supply Chain Sustainability Lab, which holds the distinction of being India’s first ISO-certified tool has also been recognized by the Smart Freight Centre in the Netherlands for its contribution in decarbonizing freight transportation.

Further strengthening our digital capabilities, we have successfully piloted AI-driven analytics, bot-based service operations and are testing Agentic AI solutions to elevate customer experience and operational precision.

He further added, “With the global logistics sector undergoing transformative acceleration, TCI remains steadfast in its commitment to resilience, innovation, operational excellence and stakeholder value creation. As we look ahead, we are investing in up-skilling talent, green logistics, automation and strategic partnerships, aligned with our vision to be a key enabler in positioning India as a global logistics hub."

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Surface Transportation company Transport Corporation of India announced Q3FY25 results

  • Revenue: TCI reported a consolidated revenue of Rs 11,539 million, marking a growth of 14.1% compared to Rs 10,115 million in Q3FY24.
  • EBITDA: The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at Rs 1,478 million, a 15.8% increase from Rs 1,276 million in Q3FY24.
  • Profit After Tax (PAT): PAT rose by 27.3% to Rs 1,021 million, compared to Rs 802 million in Q3FY24.

Vineet Agarwal, MD - TCI, said: "This robust performance has been achieved through balanced growth across all our product lines. Our innovative solutions and customer-centric approach have strengthened our market position and delivered value to our stakeholders.

We have seen a surge in demand for warehousing and temperature-controlled, 3PL green multimodal solutions from sectors such as FMCG & retail, agri , automotive, engineering equipment and EPR. Additionally, our diversified offerings for emerging sectors like renewables, chemicals, quick-commerce and consumer electronics have expanded in response to growing market opportunities.

While TCI has received the 'ESG Registered' badge from Dun & Bradstreet (D&B), we are equally honoured by India’s first ISO14083:2023 certificate being awarded to the Transport Emission Measurement Tool (TEMT) developed by the TCI-IIMB Supply Chain Sustainability Lab at IIM Bangalore. We remain steadfast in our commitment to on-ground actions that elevate sustainability standards within the transport and logistics sector.

With the resumption of infrastructure spending and economic activity bolstered by private consumption in the rural economy, we anticipate a robust order pipeline in the coming quarters. To sustain our momentum and drive future growth, we are strategically investing in technology, talent, and specialized logistics assets, including warehousing, automation, rail, containers, and ships. We are dedicated to expanding our network and enhancing our capabilities to offer cuttingedge, tailor-made solutions for the evolving needs of an aspirational India."

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Surface Transportation company Transport Corporation of India announced Q2FY25 results

  • Revenue: TCI reported a consolidated revenue of Rs 11,314 million, marking a growth of 12.6% compared to Rs 10,048 million in the same period last year.
  • EBITDA: The Company’s Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at Rs 1,519 million, a 15.2% increase from Rs 1,319 million in Q2FY24.
  • Profit after Tax (PAT): PAT rose by 22.2% to Rs 1,073 million, compared to Rs 878 million in the corresponding quarter of the previous year.

Vineet Agarwal , MD – TCI said: “The company has displayed resilient growth in Q2FY25 despite stalling economic conditions due to heavy monsoons, uncertainties of global geopolitical developments and slower private consumption.

We have seen growth across all lines of businesses, especially in warehousing and 3PL green multimodal solutions, coming from sectors like industrials, electrical equipment, chemicals, quick commerce & consumer electronics etc. Our diversified offerings of cold chain & chemical logistics along with other emerging verticalsolutions have shown positive traction by efficiently tapping into available opportunities.

The “Committed” badge of Sustainability awarded by EcoVadis in Aug’24 affirms that our efforts have now moved from commitment to measurable output at par with globalsustainability standards. Our continuous efforts towards road safety through TCI Safe Safar, have yet again been recognized at the 6 th Road Safety Award by FICCI in collaboration with the Hon’ble Government of India.

With the increased public infrastructure spends renewing the thrust on rail, waterways & multimodalcargo-park projects clubbed with recovering private consumption, we remain optimistic on growth in the coming quarters. By investing in technology, automation and enhancing our rail & coastal multimodal service offerings to expand our network, we are continuously strengthening our capabilities to remain as the leaders in logistics.

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Surface Transportation company Transport Corporation of India announced Q1FY25 results:

  • Revenue: TCI reported a standalone revenue of Rs 9,844 million, marking a growth of 10.9% compared to Rs 8,875 million in the same period last year.
  • EBITDA: The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at Rs 1,452 million, a 16.7% increase from Rs 1,244 million in Q1/FY2025.
  • Profit After Tax (PAT): PAT rose by 26.3% to Rs 1,052 million, compared to Rs 833 million in the corresponding quarter of the previous year

Vineet Agarwal, Managing Director, Transport Corporation of India said, “We have delivered a robust performance in the first quarter of FY2025. All our product segments serving various industry verticals have grown, especially coastal shipping, rail multimodal solutions, 3PL/warehousing and cold chain logistics. Our focus remains on providing value added and technologically advanced customized offerings to our customers.

TCI continues to innovate and develop sustainable solutions through investments in rail and coastal multimodal assets & networks. We are enabling our customers to reduce their GHG emissions by increasing our fleet of BS VI vehicles and by adopting alternate fuels like Electric, CNG & LNG.

The recent union budget has laid out a clear roadmap for the growth of the logistics sector as envisioned in the National Logistics Policy. TCI continues to invest in critical infrastructure like warehouses, yards and leverage big data from e-waybills and FASTag to estimate demand and enhance logistics efficiency for our customers.

To bolster multimodal capabilities, the Company has placed orders for building of two 7300 MT dead weight capacity cellular container vessels for a total contract price of USD 38.80 million. The ships are expected to be delivered by end 2026.

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Surface Transport company Transport Corporation of India announced Q4FY24 & FY24 results:

  • TCI announced a 10% growth in consolidated revenue for Q4FY24, compared to the same period the previous year, totaling Rs 10,789 million.
  • The company's consolidated net profit saw a significant rise of 25.4%, reaching Rs 1,033 million for Q4FY24.
  • For FY24, TCI reported a consolidated revenue of Rs 40,242 million, marking a 6.39% increase from the previous year.

Commenting on the Q4 results of FY24, Vineet Agarwal, Managing Director of Transport Corporation of India Limited, stated, TCI has delivered a stellar performance, spurred by growth in key sectors such as automobiles, engineering, temperature-sensitive products, alongside promising developments in new-age verticals.

The new financial year has started with a strong pipeline for most of our services, including 3PL, warehousing, inbound-outbound logistics, cross-border, rail and coastal multimodal solutions. This underscores our clients' choice of TCI as their preferred logistics partner.

We continue to build solutions in the area of sustainability, by adopting EV & alternate fuels like LNG. Additionally, TCI-IIMB Supply Chain Sustainability Lab celebrated its first-year anniversary, reinforcing the team’s dedication to advancing ESG practices for the betterment of the industry.

The company’s commitment to innovation and excellence is reflected in its digital initiatives aimed at providing customized solutions, including WhatsApp for business, control tower, integration with ULIP, ONDC, etc. We have recently launched our new website for better interactivity with all our customers & other stakeholders.

Looking ahead in the post-election period, we anticipate strong improvement in our performance.

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Surface Transportation company Transport Corporation of India announced Q1FY24 results:

  • Consolidated Q1FY24 vs Q1FY23:
    • Revenue from operations of Rs 9,583 million, growth of 5.5% YoY
    • EBITDA of Rs 1,267 million compared to Rs 1,191 million in Q1FY23
    • PAT of Rs 832 million compared to Rs 786 million in Q1FY23 and grew by 5.9%
  • Standalone Q1FY24 vs Q1FY23:
    • Revenue from operations of Rs 8,875 million, growth of 7.8% YoY
    • EBITDA of Rs 1,244 million compared to Rs 1,151 million in Q1FY23
    • PAT of Rs 833 million compared to Rs 766 million in Q1FY23 and grew by 8.7%

Commenting on the results, Vineet Agarwal, MD – TCI said, “The Company has delivered consistent performance despite the industry headwinds of low consumer demand, slow-down in EXIM trade, and moderate credit growth.

Our warehousing, 3PL services & emerging vertical solutions have seen traction along with heavy demand in the automotive segment. In addition, brands will witness demand due to the good monsoon and the upcoming festive season.

We continue to keep sustainability at the core of everything we do, thereby enabling our customers to meet their net-zero climate goals. TCI has committed to deploy zero-emission trucks over the next 18-24 months to run on India’s first zero-emission road freight cluster as announced by Niti Ayog in collaboration with WRI India & World Economic Forum.

Our investments in strengthening rail and coastal multimodal service offerings and building networks thereof remain.

As India gears up to be amongst the top 3 world economies, TCI is building up its capabilities and capacities to remain as leaders in logistics."

 

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Surface Transportation company Transport Corporation of India announced FY23 results:

  • Standalone FY23 vs FY22:
    • Revenue from operations of Rs 3,492 crore, growth of 18.96% YoY
    • EBITDA of Rs 468 crore compared to Rs 422 crore in FY22
    • PAT of Rs 304 crore compared to Rs 267 crore in FY22 and grew by 13.49%
  • Consolidated FY23 vs FY22:
    • Revenue from operations of Rs 3,812 crore, growth of 16.36% YoY
    • EBITDA of Rs 495 crore compared to Rs 456 crore in FY22
    • PAT of Rs 321 crore compared to Rs 293 crore in FY22 and grew by 9.48%

Commenting on the results, Vineet Agarwal, Managing Director, TCI Group, said, "In Q4 & FY’23, we have forged ahead with decent momentum across all service segments. The uptrend in the mobility sector, continued government and private capex and steady consumption trends have helped all our businesses.

Team TCI continues to achieve value for our customers through a solutions-based approach in India and the neighboring countries. Our rail and coastal multimodal services witnessed growing demand with GHG emissions savings as a clear goal. The implementation of control towers, ULIP integration, and various other digital transformation initiatives have enhanced our service offerings.

Our commitment to sustainability has been further cemented with the recent launch of TCI-IIMB Supply Chain Sustainability Lab in collaboration with IIM Bangalore. The lab aims to assist the corporates & the logistics industry in their net-zero journey.

The coming quarters will be impacted due to multiple domestic and global factors. However, the India story remains stable with continued investments in infrastructure projects. With various FTAs and PLI schemes boosting exports and manufacturing, India will become an important base in the global supply chains and move further up in the LPI index rankings. TCI remains committed to play its role by making necessary investments in ships, trains, containers, and green warehousing."

 

 

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Transport Corporation of India announced Q3FY23 results:

  • Standalone Q3FY23 vs Q3FY22:
    • Revenue from operations of Rs 881 crore, growth of 16% YoY
    • EBITDA of Rs 138 crore compared to Rs 114 crore in Q3FY22
    • PAT of Rs 95 crore compared to Rs 78 crore in Q3FY22 and grew by 22.9%.
  • Standalone 9MFY23 vs 9MFY22:
    • Revenue from operations of Rs 2,539 crore, growth of 20.5% YoY 
    • EBITDA of Rs 352 crore compared to Rs 300 crore in 9MFY22
    • PAT of Rs 229 crore compared to Rs 194 crore in 9MFY22 and grew by 18%
  • Consolidated 9MFY23 vs 9MFY22:
    • Revenue from operations of Rs 2,802 crore, growth of 18.8% YoY
    • EBITDA of Rs 368 Crores compared to Rs 320 crore in 9MFY22.
    • PAT of Rs 238 crore compared to Rs 206 crores in 9MFY22 and grew by 15.4%.

Commenting on the results, Mr. Vineet Agarwal, Managing Director, TCI stated, "In Q3FY23 of the financial year, the company has accomplished consistent performance amidst a stable macro environment. All our business segments have delivered satisfactory results in line with expectations.

While we keep a balanced view on the industrywide challenges around inflation and tightening of credit we are confident of achieving our goals to build an integrated multi modal logistics solutions organization. At TCI, our value system and our people remain at the core our customers’ success"

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