Transport Corporation of India thrives as automotive segment steers profits amid challenges - Logistics Insider

Transport Corporation of India (TCI) has reported a 5.9% increase in net profit for the first quarter of FY24, due to strong performance in its automotive division. TCI's consolidated income from operations also experienced a 5.5% year-on-year increase. Revenues in the supply chain division surged by 21.3%, while the maritime business declined by 19.3%. TCI's freight division saw a modest increase. TCI's joint venture with Mitsui, Transystem Logistics International (TLI), achieved a remarkable surge in revenues. TCI expects steady growth in the automotive segment, highlighting the potential of the Indian automotive industry.

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