CONCOR Q3 results: Net profit up 3.5% at Rs 296.5 crore; revenue at Rs 1,988 crore

CONCOR's revenue in Q3 FY23 jumped to Rs 1,988 crore, up 3.6 percent YoY. (Representative image)

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The net profit of Container Corporation of India (CONCOR) jumped 3.5 percent on-year to Rs 296.5 crore in the third quarter of fiscal year 2022-23 (Q3 FY23), as per the financial results declared by the public sector company on January 23.

In the year-ago period, CONCOR had reported a net profit of Rs 287 crore. Sequentially, the profit after tax has declined in the December 2022 quarter, as it stood at Rs 302.80 crore in Q2 FY23.

CONCOR's revenue climbed by 3.6 percent during the third quarter, rising from Rs 1,920 crore in the year-ago period to Rs 1,988.4 crore. The numbers were also higher sequentially, as the revenue in the September 2022 quarter was Rs 1,970.6 crore.

CONCOR reported an earnings before interest, taxes, depreciation and amortization (EBIDTA) of Rs 426.4 crore in Q3 FY23, which was 14.1 percent higher than Rs 373.8 crore clocked in the corresponding period of the previous year. The company's margin was up 21.4 percent in December 2022 quarter as against 19.5 percent in Q3 FY22.

Also Read | Govt to invite EoIs for CONCOR privatisation this month

Apart from releasing the quarterly results, CONCOR informed the stock exchanges that its board has cleared a third interim dividend for FY23 of "80 percent i.e. Rs 4 per equity share of face value of Rs 5 each, amounting to Rs 243.72 crore."

The record date for the purpose of payment of interim dividend has been fixed as February 6, 2023, it said, adding that it would be paid to the shareholders on or after February 13. "The payment of dividend will be made within 30 days of its declaration," the exchange filing further noted.