Transport Corporation of India’s (TRPC) revenue grew 14.5% YoY to ~INR11.5b in 3QFY25 (in line). EBITDA margin came in at 10.3% (est. 10.8%), up 40bp YoY and down ~10bp QoQ. EBITDA increased 19% YoY to INR1.2b, while APAT grew 27% YoY to ~INR1b (est. INR1b).