Dolat Capital: Container Corporation Posts Weak Quarter; Land License Fee A Shocker
An employee walks past gantry cranes loading shipping containers onto trucks from the Cosco New York container ship docked at the Jawaharlal Nehru Port (Photographer Dhiraj Singh/Bloomberg)

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.

Click on the attachment to read the full report:

Dolat Capital CONCOR Q1FY21 Result Update.pdf

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