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Informist, Thursday, May 22, 2025

 

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--CONCOR Jan-Mar net profit INR 3.02 bln vs INR 2.95 bln year ago 
--Analysts saw CONCOR Jan-Mar net profit INR 3.56 bln 
--CONCOR Jan-Mar revenue INR 22.81 bln vs INR 23.18 bln year ago 
--CONCOR to pay INR 2 per share final dividend, record date Jun 6 
--CONCOR board approves 1-for-4 bonus share issue 
--CONCOR FY25 net profit INR 12.72 bln vs INR 12.31 bln year ago 
--CONCOR FY25 revenue INR 88.63 bln vs INR 86.32 bln year ago
--CONCOR Jan-Mar EXIM revenue INR 14.91 bln vs INR 14.42 bln year ago 
--CONCOR Jan-Mar domestic revenue INR 7.91 bln vs INR 8.76 bln year ago

 

By Shakshi Jain

 

MUMBAI – Container Corp. of India Ltd. late Thursday reported a low-single-digit rise on year in its bottom line for the March quarter despite a fall in revenue. This was the seventh consecutive quarter of growth on year in net profit for the company. The bottom line was helped by the company's total expenses and tax outgo for the period rising only marginally on year.

 

The public-sector enterprise posted a rise of nearly 3% on year in net profit for Jan-Mar to INR 3.02 billion. Sequentially, the bottom line was down over 12%. Its revenue from operations fell almost 2% on year but rose around 4% sequentially to INR 22.81 billion.

 

The Navratna company missed Street estimates for both bottom line and top line. Analysts had expected the company to report a net profit of INR 3.56 billion on a revenue of INR 24.44 million.

 

The fall in revenue came despite a rise in cargo volumes handled by the company during the reporting quarter. Last month, Container Corp. had reported a total volume of 1.35 million twenty-foot equivalent units for the March quarter, up 8.3% on year. This was led by a nearly 12% on-year rise in its export and import volumes to 1.05 million twenty-foot equivalent units during the quarter. The domestic volume handled by the company in the same period, however, declined 2.7% on year to 302,453 twenty-foot equivalent units.

 

The company's export-import segment registered a revenue of INR 14.91 billion for Jan-Mar, slightly higher than the INR 14.42 billion recorded a year ago. Its domestic segment saw a decline in revenue of nearly 10% on year to INR 7.91 billion.

 

Container Corp.'s total expenses for Jan-Mar rose marginally to INR 20.20 billion on year, as rail freight expenses, which account for the largest chunk in its expenditure pie, fell but other operating expenses logged a strong double-digit rise on year. The other operating expenses rose over 23% to INR 3.16 billion. Staff costs grew more than 8% on year to INR 1.33 billion.

 

Meanwhile, depreciation and amortisation expenses and rail freight expenses each fell over 3% on year to INR 1.55 billion and INR 12.98 billion, respectively. Container Corp.'s tax outgo for the March quarter was INR 1.03 billion, up 1% on year.

 

For the full year, the company reported a net profit of INR 12.72 billion, up over 3% on year. Its revenue for the financial year 2024-25 (Apr-Mar) rose almost 3% on year to INR 88.63 billion. The total expenses grew in tandem with revenue, up 3% to INR 75.97 billion. 

 

The company announced a final dividend of INR 2 per share for FY25. The record date for the dividend payout has been set at Jun. 6. The payment will be completed within 30 days from the date of its annual general meeting, the company said. The board of directors also approved issuance of one bonus share for every four equity shares held, the company added.

 

Thursday, shares of the company closed 0.9% higher at INR 737.95 on the National Stock Exchange.  End

 

Edited by Rajeev Pai

 

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