TVS Supply Chain Solutions Ltd. reported consolidated fourth quarter web revenue at ₹5.4 crore as in contrast with a web loss of ₹9.4 crore in the identical interval final 12 months.
On a consolidated foundation income for the quarter stood at ₹2426.3 crore, up 4.5percentY-o-Y.
“The normalisation of freight rates and continuous growth in the integrated supply chain solutions (ISCS) segment have helped achieve this topline growth,” the corporate mentioned in a submitting with exchanges.
For the complete 12 months, the consolidated income was at ₹9,200 crore which was decrease from ₹9,994 crore within the earlier 12 months primarily as a result of world commerce cycle challenges in Network options (NS) section which was compensated by further enterprise from ISCS section.
The firm through the 12 months suffered a web loss of ₹57.7 crore as in contrast with web revenue of ₹47.7 crore within the earlier 12 months.
Ravi Viswanathan, Managing Director, TVS Supply Chain Solutions Ltd. mentioned, “The quarterly and annual results reflectthe consistent growth in the ISCS segment and strong resilience, despite major headwinds, in the NS segment.
“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 mentioned.
He additional added, “We are continuously strengthening our organization with process and technology to capitalize on growth opportunities and remain confident of our healthy business development pipeline, which will drive further growth in FY 25.”
Ravi Prakash Bhagavathula, Global CFO of TVS Supply Chain Solutions Ltd. mentioned, “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 bps, and realization of the full benefits of the debt reduction efforts of the Company. These measures have laid the essential foundation as we pursue our medium-termgoals.”
