Post Date : October 31, 2019
Container Corporation of India Ltd. (CONCOR) has reported a net loss of INR 332.71 crores for the quarter ended September 30, 2019, on Wednesday.
The state-run multi-modal Logistics company, in a regulatory filing to the BSE, said it made a net profit of INR 333.44 crore during the same quarter last year.
According to reports, the total income during the July-September quarter of the current fiscal dipped marginally from INR 1,897.92 crore to INR 1,800.45 crore in the year-ago period.
The total expenses during the quarter were at INR 1,469.78 crore as compared to INR 1,444.34 crore in the July-September quarter of the preceding fiscal.
After the completion of the Dedicated Freight Corridors, the market value of CONCOR will jump from the present INR 34,733 crore to about INR 70,000 crore as most of their container terminals are strategically located in the vicinity of the DFCs.
CONCOR has been in the news recently after the Centre’s proposal for strategic sale of the Navaratna PSU. According to news reports, the Centre is planning to raise about INR 7,000-8,000 crore from the strategic sale.
Apart from providing inland transport by rail for containers, the state-run Container Corporation of India is also into the management of ports, air cargo complexes and establishing the cold chain.