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ICICI Direct Report
Transport Corporation of India Ltd. reported a strong set of Q3 FY21 numbers.
Revenues grew strongly QoQ (up 17%) and YoY (10.5%) to Rs 715 crore.
Supply chain management segment reported strong growth both QoQ and YoY (up 19% QoQ, 24% YoY), followed by the freight division (up 18% QoQ, 2% YoY) and shipping division (up 11% QoQ, 5% YoY).
Ebitda margins expanded 86 basis points YoY to 10.5% mainly due to higher gross margins (19.5% versus 19% in Q3 FY20) and lower employee to sales ratio (5% versus 5.7% in Q3 FY20).
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