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Logistics firm TCI Express on Monday posted an about 12 per cent rise in profit after tax (PAT) at Rs 38 crore in the September quarter on account of higher income.

The company’s PAT stood at Rs 34 crore in the corresponding quarter of the previous financial year, TCI Express said in a BSE filing.

Its total income during July-September 2022 rose to Rs 312 crore from Rs 275 crore in the year-ago period.

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The firm’s total expenses were at Rs 262 crore as against Rs 230 crore earlier.

The earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at Rs 54 crore as compared to Rs 48 crore in the second quarter of 2021-22.

In a separate statement, the firm’s Managing Director Chander Agarwal said: “Quarter started on a positive note. The recovery trend was visible in many internal & external economic indicators and parameters. During the quarter, we saw an overall improvement in the output for the month of July with a marginal decline in August primarily due to a decline in the manufacturing and mining sector.” The board of directors has recommended an interim dividend of Rs 3 per share for the financial year 2022-23.

“We have invested for land purchase in Kolkata for setting up an automated sorting centre and network expansion by adding 22 new branches to serve a growing market,” Agarwal added.

Shares of the company on Monday ended 0.22 per cent up at Rs 1894.85 apiece on BSE. PTI ABI ABM ABM