Concor shares dip as Q3 domestic volumes decrease by 1.25%, despite 8.25% growth in EXIM volumes

Container Corporation of India (CONCOR) recorded total volumes of 11,50,808 TEUs (twenty feet equivalent units) for the quarter ending December 2023, up by around 6.05 percent Year-on-Year.

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Shares of Container Corporation of India opened flat on January 12, a day after reporting a 8.25 percent year-on-year increase in Q3 EXIM volumes and a 1.25 percent YoY decline in domestic volumes. At 9:20 am, the stock was trading in the red at Rs 900 (0.3 percent lower).

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In a regulatory filing on January 11, Container Corporation of India (CONCOR) recorded total volumes of 11,50,808 TEUs (twenty feet equivalent units) for the quarter ending December 2023, up by around 6.05 percent Year-on-Year. Of this, EXIM volumes grew 8.25 percent to 9,02,582 TEUs and domestic volumes fell 1.25 percent YoY to 2,48,226 TEUs.

Also watch: Concor: Cash-rich PSU with steady growth prospects | Stock Of The Day

Over the last six months, stock price of CONCOR has gained over 31 percent . In Q2FY24, the consolidated net profit grew 21.8 percent YoY to Rs 481.76. Revenues also grew 10.5 percent YoY to Rs 2,194.87 crore. In December 2023, the container transportation PSU and NTPC Vidyut Vyapar Nigam Limited (NVVN) signed a Memorandum of Understanding (MoU) to explore the possibility of setting up PV Solar renewable energy projects in CONCOR terminals.

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