Container Corp July-September Profit Rises 1.5%, Revenue up 3%

Container Corp. of India Ltd. reported a steady performance for the September quarter, with its net profit rising 1.5% on year to ₹3.77 billion, marking the ninth straight quarter of profit growth.

Revenue from operations grew 3% on year to ₹23.51 billion. Sequentially, profit climbed over 46% and revenue increased more than 9%.

Total expenses rose about 3% on year to ₹19.43 billion, driven by a sharp 20% rise in other operating costs to ₹3.17 billion. Rail freight expenses increased 1% to ₹12.60 billion, while depreciation and amortisation costs fell nearly 12% to ₹1.43 billion.

Revenue from the company’s export-import business stood at ₹15.77 billion, slightly higher than ₹15.32 billion a year earlier. The domestic segment contributed ₹7.74 billion, up from ₹7.51 billion in the year-ago quarter.

The board declared an interim dividend of ₹2.60 per share, with Nov 20 set as the record date. For the April–September period, Container Corp. posted a net profit of ₹6.34 billion on revenue of ₹45.01 billion, up 1% and 3% respectively from a year earlier.