Views on Transport Corporation of India Ltd 3QFY2016 Result: Angel Broking

Views of Mr. Amarjeet Maurya (Sr. Research Analyst- Mid Caps, Angel Broking) on Transport Corporation of India Ltd 3QFY2016 Results:

"For 3QFY2016, Transport Corporation of India Ltd (TCIL)'s top-line & bottom-line came in below our estimates. The top-line, at ~INR 551cr is flat on a YoY basis, with all business segments posting poor performances, barring freight division. For the current quarter, company reported an operating profit of ~INR 44cr, up ~5% YoY. Further, the company's operating margin expanded by 43bp YoY to 8.0%, primarily on account of lower operating expenses, which were down 207bp as a percentage of sales. The net profit grew by ~11% YoY to ~INR 19cr mainly due to lower sales growth during the quarter. Currently, we have a NEUTRAL rating on the stock and will update the same, post our interaction with the Management."

Shares of TRANSPORT CORPORATION OF INDIA LTD. was last trading in BSE at Rs.242.8 as compared to the previous close of Rs. 252.65. The total number of shares traded during the day was 16757 in over 561 trades.

The stock hit an intraday high of Rs. 257.4 and intraday low of 241.5. The net turnover during the day was Rs. 4185376.

Source : Equity Bulls

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