Transport Corporation of India Ltd. (TCI), India’s leading integrated multimodal logistics and supply chain solutions provider, today announced its financial results for the third quarter and nine months ended December 31, 2025.
Financial Highlights for Q3/FY2026:
– Revenue: TCI reported a consolidated revenue of ₹12609 Mn, marking a growth of 9.3% compared to ₹11539 Mn in the same period last year.
– EBITDA: The Company’s Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at ₹1616 Mn, a 9.3% increase from ₹1478 Mn in Q3/FY2025.
– Profit after Tax (PAT): PAT rose by 13.4% to ₹1158 Mn, compared to ₹1021 Mn in the corresponding quarter of the previous year.
Management Commentary
Commenting on the Q3FY2026 performance Mr. Vineet Agarwal, MD – TCI, said: “Quarter 3 reflected the inherent seasonality of the logistics business, supported by festive-led demand which led to positive traction across automotive, FMCG and MSME-driven integrated logistics solutions. While the initial phase of GST 2.0 led to short-term disruption, the subsequent clarity resulted in a sharp pickup in movements, particularly in finished goods and inventory rebalancing. Automotive, along with consumer durables, pharmaceuticals and e-commerce, emerged as key growth drivers during the quarter, supported by record road and rail volumes and improved warehousing utilisation.
Our ability to navigate this volatility underscores the resilience of TCI’s diversified operating model, dense branch network and strong execution capabilities, enabling us to respond swiftly to demand fluctuations while maintaining margin discipline. We remain mindful that a portion of the quarter’s momentum was event-led and inventory-driven, with volumes expected to normalise post the festive period.
We continued to advance our strategic priorities by scaling up rail, coastal and network-led logistics solutions, alongside expanding warehousing and value-added offerings. Enhancing asset productivity, cost efficiency and sustainability remains central to our execution strategy. The steady evolution of our portfolio toward end-to-end logistics positions us well to serve increasingly complex supply chains, including quick commerce, omni-channel retail and D2C brands, which demand speed, scalability and reliability.
Looking ahead, while near-term demand may moderate, improving MSME sentiment, rising consumption in tier-2 and tier 3 markets, sustained public infrastructure investment and expanding trade opportunities especially in wake of multiple FTA’s, provide a constructive medium-term outlook. TCI remains focused on disciplined capital allocation, operational excellence and long-term value creation aligned with India’s growth trajectory”
