GoI extends tenure of CONCOR CMD V Kalyana Rama by 2 years till Sept 2023

Container Corporation of India said that the Ministry of Railways, Government of India, has extended the tenure of the company's chairman and managing director V. Kalyana Rama by two years till 30 September 2023.

The CMD's tenure was to end on 30 September 2021, the PSU said.

Rama was appointed as the chairman and the managing director of CONCOR with effect from 1 October 2016 for five years. Previously, he was serving CONCOR as director (projects & services) from 3 June 2015.

V. Kalyana Rama is B. Tech (Mech.) with IOWA. He is an Ex-Railway officer of 1987 batch. Prior to joining board, he was holding the post of executive director, South Central Region of CONCOR. He had worked in BHEL, BHPV before joining Indian Railways. He had held various challenging assignments in his career with Indian Railways.

CONCOR 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 30 June 2021, Government of India (GoI) held 54.8% stake in the company.

The company's consolidated net profit soared 327% to Rs 259.23 crore in Q1 FY22 from Rs 60.61 crore posted in Q1 FY21. Consolidated net sales jumped 52.4% YoY to Rs 1,819.94 crore during the period under review.

The scrip advanced 0.29% to currently trade at Rs 701.60 on the BSE.

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