Shares of TCI Express rallied 16 per cent to hit a new high of Rs 1,245.10 on the BSE in intra-day trade on Thursday after the company reported robust earnings in the March quarter (Q4FY21), with profit after tax (PAT) surging 124 per cent year-on-year (YoY) to Rs 43 crore.
The stock of the logistics company surpassed its previous high of Rs 1,144.35 touched on Tuesday, May 18. In the past one week, the scrip has zoomed 36 per cent, as compared to a gain of 4.6 per cent in the S&P BSE Sensex.
In Q4FY21, the company’s revenue from operations grew 17.6 per cent YoY to Rs 280 crore. Ebitda (earnings before interest, taxes, depreciation, and amortisation) margin improved 870 basis points (bps) to 20.3 per cent in Q4FY21 from 11.6 per cent in Q4FY20.
The margin improvement was on the back of an increase in both volumes and realisations. In addition, the company was able to pass select cost to the customers. The asset-light model has also allowed the company to maintain high capacity utilisation, and various cost control measures adopted during the year has helped deliver strong profitability.
