Container Corporation Says It Expects To Meet Margin Forecast For This Year
Container Corporation of India said it expects to meet its margin forecast for the ongoing financial year even as it declined sequentially in the December quarter.
Concor’s revenue dropped 8.7 percent, while its margin contracted 230 basis points on a sequential basis in the three months ended December. The company, however, reported a year-on-year increase in revenue and margin during the period.
“Margin fell quarter-on-quarter due to a dull import and export situation,” Chairman and Managing Director V Kalyana Rama told BloombergQuint in an interaction. The company is also confident of achieving its 12 percent volume growth guidance for the ongoing financial year, he said.
Q3 Result Highlights (QoQ)
- Revenue fell to Rs 1,573 crore from Rs 1,722 crore.
- Net profit drops 18.2 percent to Rs 275 crore.
- Ebitda slips 17.3 percent to Rs 334 crore.
- Margin contracts to 21.2 percent from 23.5 percent.
- Expanding to international market to tap opportunities.
- Internal accruals sufficient for capex plans.
- To start coastal shipping in fourth quarter.