TVS Supply Chain Solutions Ltd., (TVS SCS) reported consolidated net profit of ₹11 crore for the September quarter against a net loss of ₹22 crore in the year earlier period.
Revenue from operations increased to by 11% to ₹2,512 crore. Total expenditure also increased by 11% to ₹2,524 crore, the global supply chain solutions provider said in a regulatory filing.
TVS SCS has two business segments, Integrated Supply Chain Solutions (ISCS) and Network Solutions (NS).
ISCS segment revenue grew by 6% to ₹1,349 crore, while NS segment by 17% to ₹1,164 crore. The NS segment has shown sequential revenue growth for four quarters in a row from Q3.
“New business wins have added ₹280 crore of revenue for the quarter. Our global account management strategy has helped us close the large deals that gives us the confidence of sustaining the growth momentum. Overall, the results reflect our resilience in navigating a complex environment and we remain confident about our profitable growth in the coming quarters,” said MD Ravi Viswanathan.
“Our Q2 results reflect sustained revenue growth, along with continued improvement in profitability driven by our focus on operational efficiency and cost management,” said Global CFO Ravi Prakash Bhagavathula.
Published – November 11, 2024 09:55 pm IST
