CONCOR Q4 Results: Net profit falls 1.6% to ₹298.5 crore; 40% Dividend, 1:4 bonus issue declared
CONCOR Q4 Results: Container Corporation of India reported a 1.6% fall in fourth-quarter profit on Thursday, hurt by a revenue drop in its domestic cargo services. The state-run rail logistics company’s consolidated net profit fell to 2.99 billion rupees ($34.78 million) for the three months ending March 31, from 3.03 billion rupees a year ago.
Revenue from its domestic segment, which provides logistics services within India, shrunk about 10%, pushing down its overall revenue by 1.6% to 22.89 billion rupees.
Revenue also saw a slight decrease of 1.6%, amounting to ₹2,287.8 crore compared to ₹2,325 crore in Q4 FY24.
The company’s EBITDA fell by 10%, standing at ₹526.6 crore, down from ₹585.7 crore in the previous year. This decline led to a drop in EBITDA margin to 23%, compared to 25.2% in the same quarter last year.
Despite the dip in profits and revenue, CONCOR’s board approved a bonus issue, offering 1 new share for every 4 shares held by existing shareholders. The move is expected to enhance liquidity and provide greater accessibility to the company’s stock.
