CONCOR spurts as Q4 PAT grows 13% YoY to Rs 317 cr

Container Corporation of India (CONCOR) rallied 4.35% to Rs 1,083.10 after the company's consolidated net profit rose 13.51% to Rs 316.93 crore in Q4 FY24 as compared to Rs 279.20 crore posted in Q4 FY23.

Revenue from operations grew by 6.45% year on year to Rs 2,325.13 crore during the quarter.

Profit before tax was at Rs 406.40 crore in Q4 FY24, up 9.66% from Rs 370.61 crore posted in the same period a year ago.

Total expenses increased by 5.26% YoY to Rs 2,011.47 crore in Q4 FY24. Rail freight expenses was at Rs 1,343.98 crore (up 10.77% YoY) while employee benefits expense stood at Rs 122.96 crore (down 4.33% YoY) during the period under review.

The company revenue from EXIM was at Rs 1,442.10 crore (up 8.91% YoY) and income from domestic business came in at Rs 883.03 crore (up 2.65% YoY) in the March quarter.

On full year basis, the company recorded 7.38% increase in consolidated net profit to Rs 1,260.59 crore on 5.93% rise in net sales to Rs 8,653.41 crore in FY24 over FY23.

Meanwhile, the firms board declared a final dividend of Rs 2.50 per equity share for the year financial year ended 2023-24, subject to approval of the shareholders.

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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