Domestic business boosts Concor show; shares rise on strong Q1 results

Earnings expected to be upgraded with a sharp improvement in margin and volume

Shares of Container Corporation of India’s (Concor) on Tuesday gained 2.5 per cent, on the back of strong June quarter (Q1) numbers. After six quarters of year-on-year fall in revenue, the company posted 9.9 per cent growth, led by both higher volumes and a price increase a quarter earlier. The domestic segment contributes 22 per cent of revenue but its volume and revenue growth at 26-32 per cent was much faster than in the larger export-import (exim) one, which reported five to 13 per cent growth on the two parameters.

The management indicated the company had been building its network.