CONCOR Q1 FY25 PAT rises 5% YoY to Rs 258 crore

Container Corporation of India (CONCOR) reported 5.14% increase in consolidated net profit to Rs 258.17 crore in Q1 FY25 as compared to Rs 245.56 crore posted in Q1 FY24.

Revenue from operations grew by 9.38% year on year (YoY) to Rs 2,103.13 crore during the quarter ended 30 June 2024.

Profit before tax was at Rs 347.11 crore in first quarter of FY25, up 8.83% from Rs 318.95 crore reported in same quarter last year.

On segmental front, revenue from EXIM stood at Rs 1,321.54 crore (up 7.30% YoY) while revenue from domestic un-allocable segment stood at Rs 781.59 crore, (up 13.08% YoY) during the quarter.

Total expenses jumped 9.78% YoY to Rs 1,849.87 crore in Q1 FY25 over Q1 FY24. Rail freight expenses was at Rs 1,210.33 crore (up 13.27% YoY) while employee benefits expense stood at Rs 116.82 crore (up 10.22% YoY) during the period under review.

Meanwhile, the company's board has declared an interim dividend of Rs 2 per equity share for the financial year 2024-25. The record date for the purpose of payment of dividend will be 17 August 2024 and the same will be paid on or after 23 August 2024.

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.

The scrip declined 1.70% to currently trade at Rs 982.25 on the BSE.

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