TVS Supply Chain Solutions turned ₹7.5 crore net in
The Hindu
TVS SCS reports ₹7.5 crore profit, revenue up 11% to ₹2,539 crore, driven by new customers and operational efficiencies.
TVS Supply Chain Solutions Ltd. (TVS SCS) reported consolidated net profit for the quarter ended June stood at ₹7.5 crore against a loss of ₹51 crore in the year-earlier period.
Revenue from operations increased by 11% to ₹2,539 crore, of which Integrated Supply Chain Solutions (ISCS) accounted for ₹1,426 crore and Network Solutions (NS) segment ₹1,113 crore. TVS SCS has an order book of ₹4,000 crore.
ISCS growth was driven by a combination of new customers additions and diversification of existing customer base, while NS segment by volume surge in the ocean freight business, MD Ravi Viswanathan said during an interaction.
“We see a significant growth opportunity in India following the recent budget announcement. This development is expected to open up more outsourcing opportunities for supply chain player such as TVS SCS,” he said.
“Our robust order pipeline combined with our focus on operational efficiencies give us the confidence in sustaining this growth momentum in the upcoming quarters,” said Global CFO Ravi Prakash Bhagavathula.