Container Corp shares sink 2.5% on weak Q4 show, EBITDA under expectations

At 9.20 am, the share price sank below the Rs 1,000-mark to Rs 998.65 per share, lower by 2.6 percent on the NSE.

Follow our market blog to catch all the live updates

More numbers

CONCOR's total volumes increased by 11 percent on-year to 1.24 million TEUs with export-import (EXIM) and domestic volumes at 0.93 million and 0.31 million TEUs, respectively, marking a 10 percent and 16 percent year-over-year growth, in line with expectations.

CONCOR reported EBIDTA of Rs 591 crore, 8.5 percent higher from the year-ago period. The EBITDA margin rose 50 basis points to 25.4 percent from 24.9 percent in Q4 FY23. The company's EBITDA came around eight percent under Motilal Oswal's expectations.

EBITDA is short for earnings before interest, taxes, depreciation and amortisation.

Price realisation rose as rail freight expenses increased only 10.8 percent to Rs 1,344 crore despite an 11.2 percent rise in volumes, as the company stopped discounts after the festive period.

An industry-wide increase in exports and imports benefitted the cargo operator, whose two-thirds of revenue comes from this segment, analysts said.

Over the past year, CONCOR shares have gained around 60 percent, as against a 23 percent rise in the benchmark Nifty 50 index.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.