State-owned Container Corporation of India (Concor) on Friday reported a 92 percent dip in consolidated net profit to INR 24.97 crore for the fourth quarter ended March 2021.
The company had clocked a net profit of INR 316.56 crore in the year-ago period, the multi-modal logistics company said in a regulatory filing.
The total income during the January-March period of 2020-21 rose to INR 2,029.91 crore from INR 1,659 crore a year ago. Its expenses stood at INR 1,911 crore as compared to INR 1,257.63 crore earlier.
For the full fiscal 2020-21, the company’s consolidated profit grew 23 percent to INR 500.61 crore as against INR 405.70 crore in 2019-20. The company also reported a 23.5 percent rise in consolidated revenues for the March quarter at INR 1,956.69 crore.
Container Corporation of India Limited is a wholly owned subsidiary of the Indian Railways. Incorporated in March 1988 under the Companies Act, CONCOR started its operations in November 1989 taking over an existing network of seven inland container depots from Indian Railways.
Besides providing inland transport by rail for containers, Concor also looks into the management of ports, air cargo complexes and establishing cold chain.