Container Corp Q4 Results: Profit Rises But Export-Import Sales Remain Weak

Container Corp.'s consolidated net profit rose 8% to Rs 279 crore in Q4.

<div class="paragraphs"><p>Containers truck at port. (Photo: Bernd Dittrich /Source: Unsplash)</p></div>
Containers truck at port. (Photo: Bernd Dittrich /Source: Unsplash)

Container Corp. of India Ltd.'s consolidated net profit rose in the fourth quarter, despite continued weakness in the export-import segment.

The company's consolidated net profit rose 8% to Rs 279 crore in the quarter ended March, according to its exchange filing.

Container Corp. Q4 FY23 Highlights (YoY)

  • Revenue rose 6% to Rs 2,184.3 crore vs Rs 2.057.6 crore.

  • Ebitda increased 8% to Rs 451 crore vs Rs 417 crore.

  • Ebitda margin stood at 20.7% vs 20.3%.

Sales in the export-import segment fell nearly 3%, while domestic sales rose 23%.

The company paid Rs 392.4 crore as land licence fees to the Indian Railways in the year ended March.

The central government is keen to sell its 30.8% stake in the company.

In September last year, to aid the disinvestment of the company, the Union Cabinet approved the lowering of the Railway Land Licensing Fee to 1.5%, from 6% of the market value of the land. Lower land lease fees makes the company more lucrative for private players.

Shares of Container Corp. closed 1.5% lower before the results were announced, as against a 0.3% fall in the NSE Nifty 50.