Concor Shows Income Growth of 9.80% in 3Q Oct-Dec '10

Container Corporation of India Limited (CONCOR), a mini ratna public sector under-taking under Ministry of Railways, has come out with its quarter ended 31st December,2010 financial results indicating a total turnaround of business which had gone through turbulent times during the past one and half years. The rail container operator has demonstrated once again that rail based logistics could be the mainstay of the logistic sector, which would propel the country towards greater industrial growth.

• The Operating revenue during third quarter (October 2010 to December 2010) is Rs.97,113.37 lakhs which was Rs.88,445.57 lakhs during the same period of previous year. The operating Income during third quarter shows a rise of 9.80% amounting to Rs.8,667.81 lakhs.

• Other Income during the third quarter is Rs.4,786.54 lakhs which was Rs.3,815.02 lakhs, leading an increase of 25.47 %.

• Net Profit during the third quarter has increased from Rs.20,061.96 lakhs to Rs.22,848.30 lakhs showing a net increase of 13.89%.

CONCOR is also planning to invest in logistics parks to effectively exploit recent Indian Railway policy announcement granting entry to private operators in bulk movement and bulk handling. Buoyed by the increasing trend in revenues, CONCOR Board has announced an interim dividend of 75% (Rs.7.50 per share of face value Rs.10) to its shareholders amounting to Rs.9,748.71 lakhs which is the highest interim dividend announced so far.