CONCOR shares shed over 2% despite rise in Q3 profit; Nomura sees 31% upside

The firm reported an earnings before interest, taxes, depreciation and amortization (EBIDTA) of Rs 426.4 crore in Q3 FY23, which was 14.1 percent higher than Rs 373.8 crore clocked in the corresponding period of the previous year.

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Container Corporation of India (CONCOR) shares lost over 2 percent in the morning session on January 24, a day after the company declared its third quarter earnings.

The net profit of Container Corporation of India (CONCOR) jumped 3.5 percent on-year to Rs 296.5 crore in the third quarter of 2022-23 (Q3 FY23), as per the financial results declared by the public sector company on January 23.

In the year-ago period, CONCOR had reported a net profit of Rs 287 crore. Sequentially, the profit after tax has declined in the December 2022 quarter, as it stood at Rs 302.80 crore in Q2 FY23.

At 9:48am, Container Corporation was quoting at Rs 681.00, down Rs 20.00, or 2.85 percent, on the BSE. It has touched an intraday high of Rs 692 and an intraday low of Rs 676.75.