Container Corporation Reports 12% Decline in Q4 Profit Despite Flat Revenue, Declares Dividend
मुख्य बातें
- •CONCOR’s Q4 net profit fell 12% YoY to ₹231 crore from ₹262 crore in Q4 FY23.
- •Revenue remained flat at ₹2,263 crore, down 1% from ₹2,288 crore in Q4 FY23.
- •The board declared a final dividend of ₹6.50 per share for FY24.
- •FY24 net profit stood at ₹1,005 crore, down from ₹1,110 crore in FY23, with revenue rising 3% to ₹9,010 crore.
New Delhi, April 25 — Container Corporation of India Limited (CONCOR) on Thursday reported a 12% year-on-year decline in standalone profit after tax for the fourth quarter ended March 31, 2024, even as revenue remained nearly flat. The state-run logistics major posted a net profit of ₹231 crore in Q4 compared with ₹262 crore in the same period last year. Revenue for the quarter stood at ₹2,263 crore, marginally lower by 1% from ₹2,288 crore in Q4 FY23.
The company’s board of directors approved a final dividend of ₹6.50 per equity share for FY24, signaling confidence despite the profit dip. Analysts attributed the muted performance to higher operating costs and softer freight demand, especially in the container rail segment, which remains a key revenue driver for CONCOR. Container Corporation operates India’s largest rail-linked logistics network, handling over 300 container trains daily and managing 61 inland container depots and terminals across the country.
