CONCOR Shares Flat Despite Strong Q3 EXIM Growth and Domestic Decline

12 Jan 2024 , 12:41 PM

Container Corporation of India (CONCOR) shares opened flat on January 12, a day after reporting Q3 results.

Q3 witnessed an 8.25% YoY increase in EXIM volumes and a 1.25% YoY decline in domestic volumes. At the time of writing, the stock was trading 1.98% lower at Rs 885.

In a regulatory filing on January 11, CONCOR recorded total volumes of 11,50,808 TEUs for Q3 December 2023, up by approximately 6.05% YoY.

EXIM volumes grew by 8.25% to 9,02,582 TEUs, while domestic volumes fell 1.25% YoY to 2,48,226 TEUs.

Over the last six months, CONCOR’s stock price has gained over 31%.

In Q2FY24, consolidated net profit grew by 21.8% YoY to Rs 481.76, and revenues increased by 10.5% YoY to Rs 2,194.87 crore.

In December 2023, CONCOR and NTPC Vidyut Vyapar Nigam Limited (NVVN) signed an MoU to explore PV Solar renewable energy projects in CONCOR terminals.

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