Concor Q4 net up 19% on better control over expenses

Container Corporation of India (Concor) registered almost 19 per cent growth in its net profit in the fourth quarter against the same period last fiscal, touching Rs.292.71 crore. This is despite a sharp increase in depreciation during the quarter to Rs.81.02 crore, against Rs.49.95 crore.

“We controlled our expenses and also managed running of trains to lower empty running of trains,” Concor CMD Anil Kumar Gupta told BusinessLine. For the fourth quarter, Concor registered earnings of Rs.1,497 crore, up over 15 per cent against the same period last fiscal. Train haulage charges, which are the largest share of operating expenses, also went up by 17 per cent during the period.

For the year 2014-15, the net profits were at Rs.1,047.55 crore, up 6 per cent against last year. The revenues were at Rs.5,573 crore, up almost 12 per cent over last fiscal. This was despite the depreciation touching Rs.372 crore during the year, against Rs.189 crore last year, due to new accounting norms. The company’s stocks closed at Rs.1,825.4, up 8.65 per cent on the BSE.