EBITDA margins impacted by one-offs, lower utilisationTCIEXP - 1408 Change: -11.60 (-0.82 %)
News: Revenues grew 30% YoY to Rs 290 crore, driven by increased economic activity compared to the base quarter. EBITDA margins improved marginally by 30 bps YoY to 14.7% (Q4FY22: 16.8%). Subsequently. absolute EBITDA grew 33% YoY to Rs 43 crore (QoQ decline of 15%). Consequently, PAT grew 31% YoY to Rs 31 crore (QoQ decline of 14%).
View: To further expand its presence among the SME customers, TCIEL has added 10 new branches during Q1FY23 in the West and North region and is targeting to add around 50 branches during FY23. The company has also incurred a capex of Rs33 crore primarily towards the land purchase in Kolkata for setting up automated sorting centre. The recently launched Gurgaon sorting centre of the company is now operational 24x7 and should aid in reducing the turnaround time and enhance operational efficiencies over medium to longer term.