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Container Corporation of India Ltd (Concor) on Thursday posted a 4.51 per cent increase in consolidated net profit to Rs 340.52 crore for the third quarter ended December 2024. The company had reported a consolidated net profit of Rs 325.81 crore a year ago, Concor said in a regulatory filing. During the quarter under review, the consolidated revenue from operations was Rs 2,303.99 crore against Rs 2,302.12 in the year-ago period. Concor said its Board has declared an interim dividend for FY 2024-25 of 85 per cent -- Rs 4.25 per equity share of face value of Rs 5 each, amounting to Rs 258.95 crore.
The government has put the privatisation of Container Corporation of India Ltd (Concor) on the backburner, an official said. In November 2019, the Union Cabinet approved the strategic sale of a 30.8 per cent stake, along with management control, in Concor -- a Navratna PSU under the Railways Ministry. The government currently holds 54.80 per cent of Concor. "The government is unlikely to push Concor's strategic sale. There are some concerns from Railways Ministry as also investors," the official said. The official further said that with the government holding in the company at 54.80 per cent, there is little scope for coming out with an offer for sale (OFS) in Concor. Although the Cabinet approval for the Concor sale was accorded in 2019, no worthwhile progress has so far been made, and even an Expression of Interest (EOI) has not been invited for the strategic sale. Shares of Concor closed at Rs 1,043.25 apiece, up 0.35 per cent over the previous close on the BSE.