Dolat Capital: Container Corporation Posts Weak Quarter; Land License Fee A Shocker
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Dolat Capital Report
Container Corporation of India Ltd. reported lower than estimated sales, Ebitda, and profit after tax during the quarter. Revenue at approximately Rs 11.9 billion, down 27% YoY /24% QoQ led -21%/- 8% volume/realisation decline.
Margins at 13.4%, a multi-year low. Expects improvement in H2 FY21. Q2 will be better than Q1 FY21.
Ministry of Railways has demanded for Rs 7.77 billion as land licence fee for FY21 for the Okhla and Tughlakabad Terminals of Container Corporation at Delhi.
However, company believes that demand is not as per the Railway's extant policy. Rs 1.2 billion has been provided for the quarter.
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