Container Corp Records 6% YoY Increase with 11.59 Lakh TEUs Throughput

Container Corporation of India Limited, commonly known as CONCOR, specializes in logistics and transportation services. The company operates mainly through 2 segments: one is domestic, and the second is export and import (EXIM). The company’s main function is to transport containers from ports using rail wagons within the country. In addition, the company manages cold storage chains and warehouses. Container Corporation of India Limited operates 59 terminals across India, with two strategic tie-ups. The Indian public sector undertaking Concor is currently being considered for privatization. The privatization process involves the Indian government selling 30.8% of its 54.8% shareholding. The completion was originally scheduled for fiscal year 2021-2022, but it has been postponed until the next fiscal year. The Indian Government lowered the land licensing fee for Indian Railways from 6% to 3% of the land’s market value in April 2022 to help the company privatize.

Q1 FY25 update:

Container Corp. of India Ltd. reported a 6% annual growth in total throughput in the April-June quarter. The total time required for developing and delivering goods or services to the customer is called throughput.  Domestic output increased by 15.50% from 2,51,920 TEUs reported in Q1 FY25 to 2,89,787 TEUs in Q1 FY25. The quarter that ended on June 31, 2024, had 8,69,464 TEUs, which was a 3.3% increase over last year’s EXIM throughput.

The company’s net profit rose 13.51%:

Q4 FY24 saw a 6.45% increase in operating revenue to Rs 2,325.13 crore, while the company saw a 13.51% increase in its consolidated net profit to Rs 316.93 crore.

Stocks declined by more than 1%:

The CONCOR stock price is currently at Rs. 1027. Despite significant year-on-year growth in the domestic and EXIM sectors post-results, the stock is down by over 1% today.

Conclusion: CONCOR’s strong financial performance is a reflection of its solid business model and competitive position in the market. The company’s consistent growth in net profit indicates that it is effectively managing its operations and generating value for shareholders. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.