Container Corporation of India said that it has inked a strategic collaboration through a Memorandum of Understanding (MOU) with Central Warehousing Corporation (CWC) for driving innovation and efficiency in the logistics.
The partnership aims to leverage the respective strengths of CONCOR and CWC to optimize supply chain management, enhance customer service, and foster growth in the industry.
The collaboration will encompass sharing infrastructure, technology, expertise, and resources to achieve common objectives to offer seamless and cost-effective, end to-end logistics service including First Mile Last Mile solution by offering to its stakeholders the best logistics solutions with an overall purpose to reduce the logistics cost of the nation.
CONCOR operates 59 terminals across the country along with two strategic tie-ups. The company's primary operation is to provide inland transportation of containers from ports using rail wagons. The company also manages cold storage chains and warehouses.
The logistics solution providers consolidated net profit rose 12.42% to Rs 330.74 crore on 10.28% increase in revenue from operation to Rs 2,210.57 crore in Q3 FY24 over Q3 FY23.
The scrip fell 1.24% to currently trade at Rs 856.25 on the BSE.
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