TVS Supply Chain Solutions sees strong Q4 FY24 performance
The company has recorded a consolidated net loss of Rs 90.49 crore for the year ending March 31, 2024 whereas last year it made a net profit of Rs 41.76 crore.
TVS
CHENNAI: TVS Supply Chain Solutions Ltd has reported a consolidated profit after tax of Rs 5.38 crore for the quarter January-March 2024.
The city-based integrated supply chain solutions company registered a consolidated net loss of Rs 12.35 crore in the corresponding quarter last year.
The company has recorded a consolidated net loss of Rs 90.49 crore for the year ending March 31, 2024 whereas last year it made a net profit of Rs 41.76 crore.
The total income for the quarter under review on a consolidated basis grew to Rs 2,433.06 crore from Rs 2,332.53 crore in the same quarter last year.
For the year ending March 31, 2024, the consolidated total income marginally fell to Rs 9,254.83 crore from Rs 10,070.01 crore a year ago.
The company in a release, said the integrated supply chain solutions segment reported a quarterly revenue of Rs 1,379.5 crore and contributed growth of 8.4 per cent, quarter-on-quarter, and 9.9 per cent, year-on-year.
This growth was driven by a combination of new customer additions, encirclement (additional wallet share with existing customers,) and continued diversification of the sectoral base of customers.
For the year ending March 31, 2024 the Integrated Supply Chain Solutions segment reported revenues of Rs 5,240 crore registering a year-on-year growth of 14.4 per cent.
Company global CFO Ravi Prakash Bhagavathula said, ''Our financial performance for Q4 FY 24 is a result of the continuous cost optimisation, digitisation and operational efficiency measures, which has driven the margin expansion by 80 basis points and realisation of the full benefits of the debt reduction efforts of the company.''
TVS Supply Chain Solutions MD Ravi Viswanathan said, ''The quarterly and annual results reflect the consistent growth in the ISCS segment and strong resilience, despite major headwinds, in the NS segment.'' He added, ''We have made considerable progress in our cross-selling and customer acquisition strategy and significantly expanded our footprint within the Fortune 500 customers' segment.'' ''Our technology-led solutions are differentiating us in the marketplace as we embark on deploying AI at scale in our customer engagements across the USA, Europe and India'' he added.
