Concor drops after muted Q4 earnings

Container Corporation of India lost 1.75% to Rs 1,075 at 11:24 IST on BSE after net profit declined 0.5% to Rs 225.84 crore on 15% growth in net sales to Rs 1231.39 crore in Q4 March 2013 over Q4 March 2012.

The Q4 result was announced on Saturday, 25 May 2013.

Meanwhile, the S&P BSE Sensex was up 161.72 points or 0.82% at 19,866.05.

On BSE, 304 shares were traded in the counter as against average daily volume of 26,314 shares in the past one quarter.

The stock hit a high of Rs 1,094.15 and a low of Rs 1,069 so far during the day. The stock had hit a 52-week low of Rs 832.50 on 25 May 2012. The stock had hit a 52-week high of Rs 1,190 on 26 April 2013.

The stock had underperformed the market over the past one month till 24 May 2013, gaining 1.56% compared with the Sensex's 2.74% rise. The scrip had, however, outperformed the market in past one quarter, jumping 11.22% as against Sensex's 2.01% gain.

Container Corporation of India which is known by its acronym Concor has equity capital of Rs 129.98 crore. Face value per share is Rs 10.

Concor's net profit rose 7.1% to Rs 940.03 crore on 8.5% growth in net sales to Rs 4405.97 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

On consolidated basis, Concor's net profit rose 7.5% to Rs 930.61 crore on 8.4% growth in net sales to Rs 4444.81 crore in FY 2013 over FY 2012.

Concor's board of directors at a meeting held on Saturday, 25 May 2013, declared final dividend of Rs 9.50 per share for FY 2013.

Concor was incorporated in March 1988 under the Companies Act, and commenced operation from November 1989 taking over the existing network of 7 Inland Container Depot (ICDs) from the Indian Railways. The company is today an undisputed market leader having the largest network of 62 ICDs/container freight stations in India. In addition to providing inland transport by rail for containers, Concor has also expanded to cover management of ports, air cargo complexes and establishing cold-chain. The Government of India (GoI) holds 63.08% stake in Concor (as per the shareholding pattern as on 31 March 2013).

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