TCI Express shares rise up by 17%
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New Delhi Shares of logistics firm TCI Express on Thursday zoomed nearly 17 per cent after the firm reported a 123.9 per cent rise in net profit for the quarter ended March 31. The stock rallied 16.84 per cent to close at Rs 1,258.80 on the BSE.
During the day, it zoomed 19.99 per cent to Rs 1,292.80 -- its 52-week high. On the NSE, it jumped 16.74 per cent to close at Rs 1,265. TCI Express on Wednesday reported a 123.9 per cent rise in net profit at Rs 42.57 crore for the quarter ended March 31.
The company had posted a net profit of Rs 19.01 crore in the year-ago period, TCI Express said in a filing to the BSE. Its net sales in January-March 2021 increased to Rs 279.80 crore, compared with Rs 237.94 crore in the year-ago period, the filing said.
"The fourth quarter of the financial year 2021 was the one of the best quarter, as the company delivered growth in revenues coupled with significant improvement in margins and profitability," TCI Express Ltd Managing Director Chander Agarwal said.
