Share of Container Corporation of India (CONCOR) rose over 5% after net profit zoomed 409.67 per cent to Rs 251.22 crore for the quarter ended June against profit of Rs 49.29 crore in the year-ago period.
The stock opened with a gain of 2.33% at Rs 645 against previous close of Rs 630.30 on BSE. The share touched an intra day high of Rs 665.15 rising 5.53% intra day.
The share touched an intraday low of Rs 642 on BSE.
Container Corp share trades higher than 100 day and 200 day moving averages but lower than 5 day, 20 day and 50 day moving averages.
The stock has gained 43.25% in one year and risen 61.51% since the beginning of this year.
Market cap of the firm rose to Rs 39,220 crore on BSE. Total 3.11 lakh shares changed hands amounting to turnover of Rs 20.30 crore.
Total income during the April-June quarter rose to Rs 1,876.79 crore from Rs 1,251.50 crore a year ago. Expenses stood at Rs 1,536 crore compared to Rs 1,179.71 crore earlier.
Operating profit excluding other income zoomed 175.44% to Rs 438.20 crore in June quarter against Rs 159.09 crore in corresponding quarter of previous fiscal.
On a quarter-on-quarter basis, net profit climbed 911.04% from Rs 25.64 crore in Q4 of last fiscal.
However, sales fell 7% to Rs 1819.94 crore in Q1 against Rs 1956.69 crore sales in quarter ended March 2021.
Besides providing inland transport by rail for containers, state-owned Concor is also into the management of ports, air cargo complexes and establishing cold chains.
Copyright©2021 Living Media India Limited. For reprint rights: Syndications Today