+
CONCOR reports Q3 profit surge of 12.42%
ECONOMY & POLICY

CONCOR reports Q3 profit surge of 12.42%

The State-run Container Corporation of India (CONCOR) has reported a 12.42% increase in its consolidated net profit for the October-December quarter, reaching Rs 3.3074 billion compared to Rs 2.9420 billion in the previous year. As India's largest rail container hauler, CONCOR has also witnessed a 10.28% growth in consolidated revenue from operations during the third quarter of FY24, reaching Rs 22.1057 billion, up from Rs 20.0446 billion a year ago.

During a meeting on Wednesday, the Board of Directors declared a third interim dividend of Rs4 per equity share for FY24, totalling Rs 2.4372 billion. Additionally, CONCOR disclosed that it has booked Rs 719.5 million for the land license fee (LLF) in the third quarter, bringing the total LLF booked for the nine months of FY24 to Rs 2.8752 billion.

In another development, the Board of CONCOR has decided to expedite the transfer and sale of the concessional rights and fixed assets of Concor Air to Mumbai International Airport (MIAL), as per agreed terms and conditions. This move is taking place two years before the contract's scheduled expiry in January 2026. CONCOR stated that the termination is in the best interest of Concor Air, as the Adani Group, after acquiring the Mumbai airport, expressed its intention to handle air cargo operations independently. The senior official added that CONCOR has completed all necessary formalities to hand over the air cargo operations to one of the Adani Group companies.

The State-run Container Corporation of India (CONCOR) has reported a 12.42% increase in its consolidated net profit for the October-December quarter, reaching Rs 3.3074 billion compared to Rs 2.9420 billion in the previous year. As India's largest rail container hauler, CONCOR has also witnessed a 10.28% growth in consolidated revenue from operations during the third quarter of FY24, reaching Rs 22.1057 billion, up from Rs 20.0446 billion a year ago. During a meeting on Wednesday, the Board of Directors declared a third interim dividend of Rs4 per equity share for FY24, totalling Rs 2.4372 billion. Additionally, CONCOR disclosed that it has booked Rs 719.5 million for the land license fee (LLF) in the third quarter, bringing the total LLF booked for the nine months of FY24 to Rs 2.8752 billion. In another development, the Board of CONCOR has decided to expedite the transfer and sale of the concessional rights and fixed assets of Concor Air to Mumbai International Airport (MIAL), as per agreed terms and conditions. This move is taking place two years before the contract's scheduled expiry in January 2026. CONCOR stated that the termination is in the best interest of Concor Air, as the Adani Group, after acquiring the Mumbai airport, expressed its intention to handle air cargo operations independently. The senior official added that CONCOR has completed all necessary formalities to hand over the air cargo operations to one of the Adani Group companies.

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?