Container Corporation of India Q1 results: Net profit rises 5% to Rs 258 cr

Container Corporation of India posted a 5 per cent rise in first-quarter profit on Thursday, aided by strong cargo volume growth.

Consolidated net profit rose to Rs 258 crore ($30.7 million) for the quarter ended June 30, from Rs 246 crore a year ago.

KEY CONTEXT

Container Corp's total throughput volume in the quarter rose 6 per cent from a year earlier. Revenue from its largest segment, export-import, rose 7.3 per cent to Rs 1,322 crore.

Logistics companies like Container Corp, which provides carrier, terminal operations and warehouse businesses, have gained from strong cargo movement into and out of the country, aided by strong commercial activity and domestic demand.

Larger peer Adani Ports and Special Economic Zone also reported a strong first quarter, aided by a rise in the cargo volumes.