Concor shares slip 6% after posting Q3 results; revenue slips marginally

Container Corporation of India (Concor) shares slipped 6.4 per cent on Friday, logging an intraday low at Rs 706.55 per share on BSE. The selling in the stock came after the company reported a marginal decline in its Q3 revenue.

 

Around 10:02 AM, Concor share price was down 3.04 per cent at Rs 732.65 per share on BSE. In comparison, the BSE Sensex was up 0.52 per cent at 77,156.32. The market capitalisation of the company stood at Rs 

44,639.95 crore. The 52-week high of the stock was at Rs 1,193.95 per share and the 52-week low was at Rs 706.55 per share. 

 

On Thursday, after market hours, Concor reported a consolidated net profit of Rs 366.65 crore as compared to Rs 330.74 crore a year ago, up 11 per cent. 

 

However, the revenue of the company slipped marginally by 0.1 per cent to Rs 2208.31 crore for the third quarter compared to Rs 2210.57 crore in the year-ago period.  

 

The company also declared a third interim dividend for FY 2024-25 of 85 per cent i.e. Rs 4.25 per equity share of face value of Rs 5 each amounting to Rs 258.95 crore.

 

Concor is a significant player in the Indian logistics and transportation industry. It mainly focuses on containerized freight, offering multimodal transportation services, including rail, road, and sea transport. Concor operates a vast network of container terminals across India, playing a key role in boosting the country’s trade and supply chain efficiency.

 

The company primarily transports goods in large containers, and its services are used by industries ranging from manufacturing to imports and exports. It's also a subsidiary of Indian Railways, which gives it access to a robust railway network, allowing for efficient long-distance cargo transportation.

 

In the past one year, Concor shares have lost 15 per cent against Sensex's rise of 7 per cent.