TCI Express Q2 FY27 Results: Consolidated Net Profit ₹23.47 Crore on Total Income of ₹342 Crore
- Earnings
- express cargo logistics
Reviewed byRachit TripathiBlacklitt Research
TCI Express (NSE: TCIEXP) reported total income of ₹342.09 crore and net profit of ₹23.47 crore on a consolidated basis for the quarter ended 30 Sep 2026, and standalone total income of ₹339.29 crore and net profit of ₹26.66 crore, it said in a filing on 05 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹342.09 crore, up 9.4% YoY and 7.8% QoQ
- Net profit and EPS: ₹23.47 crore, down 1.8% YoY and up 14.5% QoQ; basic EPS ₹5.74
- Finance costs: ₹1.18 crore, against ₹0.38 crore a year earlier
Standalone
The company on its own, without its subsidiaries
- Total income: ₹339.29 crore, up 8.8% YoY and 7.6% QoQ
- Net profit and EPS: ₹26.66 crore, up 6.0% YoY and 19.1% QoQ; basic EPS ₹6.94
- Depreciation: ₹6.94 crore, up 30.2% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 342.09 | 312.77 | +9.4% | 317.43 | +7.8% | |
| Revenue from operations | 338.02 | 308.53 | +9.6% | 313.40 | +7.9% |
| Other income | 4.07 | 4.24 | -4.0% | 4.03 | +1.0% |
| 23.47 | 23.91 | -1.8% | 20.49 | +14.5% | |
| Profit before tax | 31.97 | 31.95 | +0.1% | 27.64 | +15.7% |
| Finance costs | 1.18 | 0.38 | +210.5% | 0.78 | +51.3% |
| Depreciation | 7.29 | 5.42 | +34.5% | 7.03 | +3.7% |
| Tax expense | 8.50 | 8.04 | +5.7% | 7.15 | +18.9% |
| Net profit margin | 6.86% | 7.64% | -0.78 pp | 6.45% | +0.41 pp |
| EPS, basic (₹) | 5.74 | 6.23 | -7.9% | 5.20 | +10.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit fell 1.8% YoY while total income rose 9.4%. Profit before tax was flat at ₹31.97 crore against ₹31.95 crore a year earlier, so the gap sits below profit before tax: tax expense rose 5.7% to ₹8.50 crore, and the filing does not explain the difference.
Finance costs of ₹1.18 crore are 0.3% of total income, but they more than tripled from ₹0.38 crore, and depreciation rose 34.5% to ₹7.29 crore. The filing does not give a reason for either change.
The consolidated figures include TCI Global (Singapore) Pte Ltd from 26 Jan 2026. Two subsidiaries with total assets of ₹66.57 crore were not reviewed by their auditors, and management considers them not material to the group.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 339.29 | 311.98 | +8.8% | 315.31 | +7.6% | |
| Revenue from operations | 335.91 | 308.53 | +8.9% | 311.95 | +7.7% |
| Other income | 3.38 | 3.45 | -2.0% | 3.36 | +0.6% |
| 26.66 | 25.15 | +6.0% | 22.38 | +19.1% | |
| Profit before tax | 35.15 | 33.19 | +5.9% | 29.53 | +19.0% |
| Finance costs | 0.90 | 0.33 | +172.7% | 0.67 | +34.3% |
| Depreciation | 6.94 | 5.33 | +30.2% | 6.79 | +2.2% |
| Tax expense | 8.49 | 8.04 | +5.6% | 7.15 | +18.7% |
| Net profit margin | 7.86% | 8.06% | -0.20 pp | 7.10% | +0.76 pp |
| EPS, basic (₹) | 6.94 | 6.55 | +6.0% | 5.69 | +22.0% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 6.0% YoY, slower than total income, which rose 8.8%. Profit before tax rose 5.9% to ₹35.15 crore, and tax expense rose 5.6% to ₹8.49 crore, so the margin narrowed to 7.86% from 8.06%.
Standalone net profit is ₹3.19 crore higher than consolidated net profit this quarter. Other income of ₹3.38 crore is 9.6% of standalone profit before tax.
The company's main business is express cargo, reported as a single segment. Its results carry an emphasis of matter on a GST demand of ₹51.36 crore, plus interest and penalty, for July 2017 to March 2022. The company's appeal was rejected by the Commissioner (Appeals) on 30 Dec 2025 and is now before the GST Appellate Tribunal, Haryana. The company says it is confident of prevailing and does not anticipate any adverse financial outcome; no adjustment is made in the results.
Inference
The board also proposed the appointment of Ranjana Agarwal as a Non-Executive Independent Director for five consecutive years from 5 Nov 2026, subject to approval by members through postal ballot. The filing does not say whether the company plans a dividend this year, and it does not give a reason for the rise in finance costs.
Filed with BSE on . Reference: Original filing (PDF)
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