The share price of TCI Express surged over 15 percent on Thursday after the company reported stellar earnings for the March quarter. Its Q4 net profit more than doubled to Rs 42.6 crore on higher sales and cost controls as against Rs 19 crore in the year-ago period.

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The stock rose 15.5 percent to its 52-week high of Rs 1,245.10 per share on the BSE.

The firm reported an 18.3 percent YoY rise in consolidated sales revenues in the quarter under review at Rs 282.86 crore versus Rs 239 crore in the same quarter last year.

Meanwhile, for the full fiscal year FY21, the net profit rose 12 percent to Rs 100 crore on the back of stringent cost controls. However, the company saw FY21 revenues falling by nearly 18 percent YoY on account of the lag effect of the pandemic.

The company has reported EPS of Rs 11.06 for the quarter ended March 31, 2021, as compared to Rs 4.94 for the period ended March 31, 2020

TCI Express is an express cargo division of the TCI group. This division offers domestic courier and international courier services through road, rail, and air with some value-added services. TCI Express also provides eCommerce delivery services in India.