CONCOR Q2 Profit Dips Slightly to ₹366.3 Crore, Revenue Grows 4.2%

29 Oct 2024 , 10:15 PM

Container Corporation of India (CONCOR), a state-owned enterprise, reported a slight decline in net profit for Q2, despite achieving a revenue increase of 4.2%.

The company’s net profit for the quarter was ₹366.3 Crore, down 0.6% from ₹368.5 Crore in the same quarter last year. Revenue for CONCOR rose to ₹2,287.7 Crore, benefiting from heightened logistics demand during the period.

Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) improved by 6.5%, reaching ₹582 Crore, up from ₹546.5 Crore, reflecting enhanced operational efficiency.

The EBITDA margin showed positive growth, rising to 25.4% from 24.9% year-on-year, which indicates effective cost management strategies. In a display of confidence in its financial health, CONCOR declared a second interim dividend of ₹3.25 per share.

The company’s mixed financial performance highlights its resilience amid market challenges while signaling continued demand in the logistics sector. CONCOR’s strategic focus on operational efficiency and revenue growth positions it well for future performance, despite the slight dip in profit.