+
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.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors.To read full article Click Here ..

Next Story
Real Estate

Glass, Reframed!

Glass façades, quintessential aesthetic building envelopes globally, have been widely adopted in India as well. But when the focus is high-performance building systems that deliver energy efficiency, comfort and architectural identity, glass isn’t the only preference. Combination solutions, involving glass and some other material, improve façade outcomes. Some combinations come at comparable prices, some at a higher price. Here is a selection of performance-oriented solutions...To read the full story Click Here ..

Next Story
Infrastructure Urban

Beyond Building Faster

India’s cities are expanding at an unprecedented pace, bringing new infrastructure and development opportunities while also intensifying challenges around mobility, public spaces, liveability and supporting infrastructure. The question, therefore, is not simply whether India can build faster, but whether it can build cities that work better.At a CW webinar, Are We Designing Better Cities – or Just Building Faster?, moderator Ar. Samir Shaikh, Founding Principal, AR&UD Studio, brought together perspectives from design, development, master planning and technology...To read the full artic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code