CONCOR gains as Q2 PAT soars 42% QoQ; declares interim dividend of Rs 3.25/- share

Container Corporation of India (CONCOR) rallied 3.91% to Rs 840.40 after the company reported 41.53% increase in consolidated net profit to Rs 365.40 crore in Q2 FY25 as compared to Rs 258.17 crore posted in Q1 FY24.

Revenue from operations grew by 8.78% quarter on quarter (QoQ) to Rs 2,287.75 crore during the quarter ended 30 September 2024.

In Q2 FY25, the company's consolidated net profit shed 0.53% YoY, while its revenue grew by 4.23% YoY.

Profit before exceptional items and tax grew by 9.20% to Rs 526.07 crore in Q2 FY25 as compared to Rs 481.76 crore reported in Q2 FY24. The firm reported exceptional items of Rs 33.32 crore during the quarter.

On segmental front, revenue from EXIM stood at Rs 1,532.11 crore (up 6.11% YoY) while revenue from domestic un-allocable segment stood at Rs 755.64 crore, (up 0.63% YoY) during the quarter.

Total expenses rose 3.99% YoY to Rs 1,890.55 crore in Q2 FY25. Rail freight expenses was at Rs 1,252.28 crore (up 4.09% YoY) while employee benefits expense stood at Rs 115.07 crore (down 5.9% YoY) during the period under review.

Meanwhile, the company's board has declared a second interim dividend of Rs 3.25 per equity share for the financial year 2024-25. The record date for the purpose of payment of dividend will be 15 November 2024 and the shareholders can expect to receive the dividend on or after 22 November 2024. The payment of dividend will be made within 30 days of its declaration.

CONCOR operates 59 terminals across the country along with two strategic tie-ups. The company's primary operation is to provide inland transportation of containers from ports using rail wagons. The company also manages cold storage chains and warehouses.

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