CONCOR drops as Q3 PAT down 35% Y-o-Y
Container Corporation of India (CONCOR) fell 0.70% to Rs 571.20 after consolidated net profit tanked 35% to Rs 180.89 crore in Q3 December 2019 (Q3 FY20) as against Rs 278.11 crore reported in Q3 December 2018 (Q3 FY19).
Net sales fell 7.7% year-on-year (Y-o-Y) to Rs 1,544.74 crore in Q3 FY20. The Q3 figures were announced after market hours on Friday, 7 February 2020.
Profit before tax slipped 19.9% to Rs 299.12 crore Y-o-Y. Current tax expenses slumped 31.5% to Rs 84.08 crore during the period under review.
Container Corporation of India is engaged in transportation of containers (rail and road), and handling of containers. The firm is also engaged in the operation of logistics facilities, including dry ports, container freight stations and private freight terminals.
As of 31 December 2019, the Government of India holds 54.96% stake in the company.
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