Container Corporation’s Q1 net profit down 21 percent

Mumbai, July 22 (IANS) Dry ports operator Container Corporation of India on Wednesday reported a decline of 21 percent in its net profit for the first quarter of the current fiscal.

The “Navratna” status company’s net profit during the quarter under review stood at Rs.206.90 crore from Rs.261.88 crore for the corresponding period of last fiscal.

The company’s total income increased by 10.95 percent to Rs.1,500.66 crore for the quarter ended June 30, 2015, from Rs.1,352.55 crore for like period of 2014-15.

The company’s total expense during the quarter under review grew by 19.90 percent to Rs.1,223.66 crore from Rs.1,020.54 crore in the corresponding period of last fiscal.

Expense-wise, the company’s rail freight outgo increased by 20.63 percent at Rs.896.29 crore in the first quarter of the current fiscal from Rs.742.95 crore in the corresponding period of 2014-15.

Revenue-wise, the company’s export segment grew by 18.20 percent at Rs.1,156.99 crore from Rs.978.81 crore in the first quarter of last fiscal.

However, domestic segment’s revenue declined by 9.28 percent to Rs.263.86 crore from Rs.290.86 crore in the like period of last fiscal.

The company’s scrip at the Bombay Stock Exchange (BSE) fell by 2.26 percent or 40.40 points at Rs.1,748.80 from its previous close at Rs.1,789.20 per equity share.

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