Container Corp. of India Ltd.'s consolidated net profit rose in the fourth quarter, despite continued weakness in the export-import segment.
The company's consolidated net profit rose 8% to Rs 279 crore in the quarter ended March, according to its exchange filing.
Container Corp. Q4 FY23 Highlights (YoY)
Revenue rose 6% to Rs 2,184.3 crore vs Rs 2.057.6 crore.
Ebitda increased 8% to Rs 451 crore vs Rs 417 crore.
Ebitda margin stood at 20.7% vs 20.3%.
Sales in the export-import segment fell nearly 3%, while domestic sales rose 23%.
The company paid Rs 392.4 crore as land licence fees to the Indian Railways in the year ended March.
The central government is keen to sell its 30.8% stake in the company.
In September last year, to aid the disinvestment of the company, the Union Cabinet approved the lowering of the Railway Land Licensing Fee to 1.5%, from 6% of the market value of the land. Lower land lease fees makes the company more lucrative for private players.
Shares of Container Corp. closed 1.5% lower before the results were announced, as against a 0.3% fall in the NSE Nifty 50.
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