CONCOR Q2 results: Net profit jumps 41% YoY to Rs 264 crore, misses estimate

MUMBAI: Container Corporation of India today reported a 41 per cent year-on-year rise in net profit to Rs 264 crore for the quarter ended September, which was below analysts’ expectations.

The transportation company reported a 21.4 per cent on-year growth in revenue from operations to Rs 1,823.9 crore, which was also below Street’s estimate.

The board of the company also approved an interim dividend of Rs 4 per share at its meeting held earlier today.

CONCOR said that it has paid Rs 225.9 crore as land licence fee to the Indian Railways as on September 30, 2021 based on rates taken from the land revenue department and the company’s own assessment.

During the quarter, CONCOR saw a 20 per cent jump in rail freight to Rs. 983.8 crore. The company’s total expenses rose to Rs. 1,547.1 crore in the reported quarter from Rs. 1,325.4 crore in the year-ago period.

Shares of CONCOR ended 1.2 per cent lower at Rs. 666.05 on the National Stock Exchange.