Container Corporation Q4 profit down 12.53 pc at Rs 294 cr

Container Corporation of India (CCI) today posted a 12.53 per cent fall in its standalone net profit at Rs 293.64 crore in the three months to March 2018.

The company's standalone net profit was Rs 335.71 crore in the corresponding quarter of 2016-17, a CCI statment said.

However, the company's total income for the quarter rose to Rs 1,681.51 crore from Rs 1,665.59 crore a year earlier.

For the entire fiscal, the company's standalone net profit for 2017-18 was Rs 1,049.04 crore as compared to Rs 858.02 crore in the previous fiscal.

Similarly, its cosolidated net profit for 2017-18 was Rs 1,063.67 crore as compared to Rs 854.13 crore in 2016-17.

Besides approving the financial results, the board of directors in its meeting held today also declared a final dividend of Rs 7.50 (75 per cent) per equity share of face value of Rs 10 each, which is in addition to an interim dividend of Rs 9.60 (96 per cent) per equity share of face value of Rs 10 each already paid.

The dividend declared is subject to approval of the shareholders in the ensuing annual general meeting.

The board has also recommended sub-division of the one equity share of Rs 10 each into two equity shares of nominal value of Rs 5 each, which is also subject to the approval of shareholders.

The compay has decided to split the shares to comply with the guidelines on capital restructuring of central public sector enterprise issued by Department of Investment & Public Asset Management (DIPAM), the Ministry of Finance in May, 2016.