More Stories

Informist, Thursday, Jan. 30, 2025

By Arya S. Biju

MUMBAI – Container Corp. of India Ltd. Thursday reported weaker than expected earnings for the December quarter with both the top line and bottom line failing to meet analysts' expectations. The company reported a low single digit on-year growth in net profit for the quarter, marking the lowest on-year growth in the last 17 quarters. Its December quarter revenue fell for the first time after rising for five consecutive quarters.  

The logistics company reported a net profit of INR 3.43 billion for the quarter, up 2.7% on year and below analysts' estimate of INR 3.46 billion. The company's revenue for the quarter fell marginally to INR 22.02 billion from INR 22.05 billion a year ago. Analysts had expected the company to post 6.2% on-year growth in revenue at INR 23.41 billion. On a sequential basis, the net profit fell over 7% and revenue was down around 4%.

For the nine months ended December, the company reported a net profit of INR 9.70 billion, up 3.6% on year. The company's revenue for the period rose 4.2% to INR 65.82 billion. 

Revenue from the export and import segment for the quarter fell 3.3% on year to INR 13.89 billion, while revenue from the domestic segment rose nearly 6% on year to INR 8.13 billion. For the nine months till December, revenue from exports and imports was INR 42.43 billion, up 3.2% on year. Revenue from the domestic segment for the period was INR 23.39 billion, up 6.2% on year.

The company's total expenditure for the quarter fell 1.3% on year to INR 18.42 billion. The company saw a 47.5% fall in its depreciation and amortisation expense at INR 810 million. This was on account of a reduction in the amount of depreciation on wagons, for which the company has increased the useful life, based on a re-assessment conducted during the quarter. 

Rail freight expenses for the quarter were INR 12.62 billion, down 2.5% on year. Other operating expenses for the quarter rose 19% on year to INR 2.84 billion, while the employee benefits expense rose nearly 11% to INR 1.24 billion.

Earlier this month, the company said it had handled a total volume of 1.28 million twenty-foot equivalent units, up 11.6% from 1.15 million twenty-foot equivalent it handled a year ago. The company's export and import trade throughput for the quarter rose 8% to 975,243 twenty-foot equivalent units. Domestic volumes were 309,551 twenty-foot equivalent units, up 24.7% on year.

The total volume handled by Container Corp. for the nine months till September was 3.75 million twenty-foot equivalent units, up around 8% on year. The export and import trade throughput for Apr-Dec was 2.85 million twenty foot equivalent units, while domestic volumes for the same period were 896,985 twenty foot equivalent units.

Along with the Oct-Dec earnings, the company has declared interim dividend of INR 4.25 per share. It has set Feb 6. as the record date for the interim dividend.

On Thursday, shares of Container Corp. closed at INR 756.25 on the National Stock Exchange, up 1.8% from Wednesday. The company announced its results after market hours.  End

Edited by Avishek Dutta

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.