the company saw 8-10 percent growth in realisation in both EXIM and Domestic business, said V Kalyana Rama, CMD, CONCOR
Container Corporation of India (CONCOR) posted stellar set of numbers in the third quarter with higher volumes from rails.
To discuss the Q3 performance in detail and the outlook going forward, CNBC-TV18 spoke to V Kalyana Rama, CMD, CONCOR.
For the domestic segment, the company reported an 18 percent uptick in revenues at Rs 320 crore and the EBIT was up three times at Rs 0.9 crore. The revenues for EXIM segment were up 25 percent at Rs 1319 crore and EBIT came in at Rs 366 crore.
Overall the revenues were up 24.7 percent at Rs 1639.5 crore and EBITDA was up 70.5 percent at Rs 44.5 crore.Rama is confident of a similar performance in the fourth quarter as well on back of new strategies doing well.
He said the company saw 8-10 percent growth in realisation in both EXIM and Domestic business. For EXIM the growth was due to double-stacking, while in domestic segment the demand has improved post GST.
The combined throughput volume growth is around 12 percent, said Rama.
Meanwhile, the empty running cost has been decreasing to the tune of Rs 10 crore every quarter and it would likely reduce the same in Q4 as well or could be slightly less.
The higher employee costs was due to pay revisions and arrears of that paid for the first nine-months. The cost was around Rs 77 crore for the nine months more than last year. However, this is only a onetime cost because next year it would be the general increment of around 3 percent and DA etc., said Rama.In terms of bottomline, he is optimistic of a 20 percent growth in FY18