Concor logs 6% growth in total volumes in Q1

9 Jul 2024 , 09:37 AM

On Monday (July 8), the state-owned Container Corporation of India Ltd (CONCOR) released updates for the first quarter of FY25, with total volumes increasing by 6% year on year (YoY) to 11.59 lakh twenty-foot equivalent units (TEUs) from 10.93 lakh TEUs in the same period previous year.

The domestic segment’s volumes climbed by 15% year on year to 2.90 lakh TEUs, up from 2.52 lakh. The exim (export-import) market also exhibited consistent increase, with volumes up 3.30% to 8.69 lakh TEUs from 8.42 lakh TEUs the previous year.

CONCOR’s net profit increased by approximately 10% to ₹301.25 Crore in the fourth quarter of FY24, driven by increased volume and market share.

The company reported a consolidated net profit of ₹274.14 Crore in Q4 FY23. In the current quarter, CONCOR’s consolidated revenue from operations was ₹2,417.87 Crore, compared to ₹2,281.75 the previous year.

CONCOR is a leading player in container shipping and handling. The corporation operates 66 inland container depots and container goods stations around the country, including 62 terminals and three strategic alliances.

CONCOR was established in March 1988 as a Public Sector Enterprise under the Ministry of Railways, with the primary goal of creating modern multimodal transportation logistics and infrastructure to support the country’s expanding foreign trade.

At around 9.31 AM, Container Corporation of India was trading 1.02% lower at ₹1,032.50 per piece, against the previous close of ₹1,043.15 on NSE. The counter touched an intraday high and low of ₹1,039.05, and ₹1,018.55, respectively.

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