Transport Corporation of India Ltd. Q2 net profit up by 16% to Rs 558 lacs

Mumbai, October 22, 2008: Transport Corporation of India Ltd., India’s leading integrated supply chain and logistics solutions provider, today announced its financial results for the six months ended September 30th 2008. The company registered an increase of 5% in operating profit in the half year ended September 30, 2008, which increased to Rs 4102 lacs from Rs 3917 lacs in the corresponding period last year. The company’s total revenue for H1 also registered a growth of 16.87% rising to Rs 66227 lacs from Rs 56665 lacs in the same period last year.

For the second quarter ending September 30, 2008-09, the PAT rose by 16%, Rs 558 lacs from Rs 481 lacs in the same period last year.

Speaking on the occasion, Mr D P Agarwal, Vice Chairman and Managing Director TCI said, “I am pleased to report continuous growth on the back of healthy operative performance. Despite the global slowdown & the current market conditions, the growth in overall business has been in line with our expectations, with all the divisions from trucking, express delivery, shipping to supply chain.”

PAT for H1 has shown a rise by 8.95% at Rs 1144 lacs against Rs 1050 lacs during H1 FY 2007-08.

“TCI has succeeded in maintaining its volumes owing to better capacity utilization, increase in internal efficiencies and working closely with its customers. We have further maintained a strong growth momentum and have expanded global operations in regions like China and Germany. The group also undertook a rebranding exercise on completion of 50 years of operations and to consolidate group companies under the umbrella brand. The company will continue to focus on offering customised and end-to-end supply chain and logistics solutions to a diverse and wide range of customers and is well-positioned to leverage on the opportunitites prevailing in the 3PL sector”, he further added.

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About Group TCI: Group TCI, with revenues of over Rs.1450 crores, is India’s largest integrated supply chain and logistics solutions provider. TCI group has an extensive network of over 1200 Company owned offices, with expertise developed over 5 decades and a team of 6500 trained employees With its customer-centric approach, world class resources, State-of-Art technology and professional management, the group follows strong corporate governance and is committed to value creation for its stakeholders and social responsibilities. TCI was the first to launch several solutions in the logistics field. Its product offering includes:

TCI Freight: This is the largest division of TCI. It is India’s foremost and Asia’s leading surface transport entity. This division is fully equipped to provide total transport solutions for cargo of any dimension or product segment. It transports cargo on FTL (Full truck load) / LTL (Less than truck load) / Small packages and consignments/ Over Dimensional cargoes.

TCI XPS: A leading express logistics service provider, it offers a single window door to door time definite solution for customers’ express requirements. It services 13000 locations in India and 20 countries abroad.

TCI Supply Chain Solutions: TCI SCS offers customized supply chain solutions to its customers. It specializes in offering state-of-the-art warehousing and inventory management services based on JIT and FIFO. The division has concluded many contracts across several industries to provide its services most of which have been rolled-out and commenced operations.

TCI Global: It is the global business division of TCI and provides end-to-end logistics solutions across boundaries.

TCI Seaways: TCI Seaways has well-equipped ships in its fleet and caters to the coastal cargo requirements for transporting container and bulk cargo.

TCI Foundation: As the group’s social arm, TCIF fulfils corporate social responsibility and runs charitable hospitals and schools for the under-privileged in the rural areas. It is also the beneficiary of the Bill & Melinda Gates Foundation for AIDS interventions and education among the vulnerable trucking community