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CONCOR Q3 net profit up by 13.8% at Rs 228 cr

New Delhi, January 21, 2011

Container Corporation of India Limited (CONCOR), a PSU under Ministry of Railways, today said its net profit for the third quarter this fiscal has registered a growth of 13.89 per cent at Rs 228 crore as compared to the same period last in the financial year.

The pperating income during this period was around Rs 971 crore, with an increase of 9.8 per cent over the corresponding period last year, an official release said. The other income was Rs 48 crore, up by 25.47 per cent.

With this, CONCOR Board has announced an interim dividend of 75 per cent (Rs 7.50 per share of face value Rs 10) to its shareholders for 2010-11, amounting to about Rs 97.5 crore. It is the highest interim dividend announced by the PSU so far.

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 release said.

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.

Earlier this month, CONCOR paid a dividend of Rs 114.65 crore for the year 2009-10 to the Railway Ministry. 

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