Q2 sales and profit fall; Singapore expansion approved
TCIEXP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.3 pts less than Nifty Microcap 250 and 0.9 pts less than its Logistics Solution Provider peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q2 sales fell to Rs 308.53 crore from Rs 311.54 crore, while net profit declined to Rs 23.91 crore from Rs 25.15 crore. The auditors reported no material misstatement. The board approved a plan to buy all of TCI Global Singapore for up to SGD 18,000 from a company under common control; it had no turnover. A guarantee of up to SGD 5 million for the Singapore subsidiary was also approved.
Poorer results may weigh on sentiment. Singapore expansion may aid growth, but shareholders face risk from a guarantee of up to SGD 5 million.