TCI to focus on express, supply chain business in 2014

MUMBAI: Transport Corp of India ( TCI), a multimodal logistics provider, would focus on express and supply chain business in 2014, its managing director Vineet Agarwal said in a statement.

TCI, which saw revenue rise about 6% in the second quarter to Rs. 499.33 crore, has been reducing it exposure to high-credit freight business. The express and supply chain business reported a combined growth of 7% in revenue during the quarter, while freight business grew 5%.

It wants to cater to high growth verticals like pharmaceuticals, retail and autos, Agarwal added. The company is waiting for Goods and Service Tax (GST) to be implemented in the country, the statement said.

Shares of the company closed down 4% at Rs. 87.45 per share on Thursday on BSE.