Container Corporation of India (CONCOR) Q4 00/01 earnings summary

Executive summary

• FY01 operating turnover rose to Rs1,074.80 crore from Rs831.42 crore; net profit increased 21.99% to Rs216.65 crore and EPS reached Rs33.33.

• Total container throughput reached 1,044,728 TEUs; the recommended dividend was 67% of paid-up capital.

Financial highlights

• Total income was Rs1,108.80 crore, up from Rs864.88 crore; profit before tax was Rs329.02 crore, versus Rs265.27 crore.

• Profit after tax was Rs216.65 crore, versus Rs177.59 crore; the result included a net prior-period adjustment of -Rs1.181 million.

• Gross profit was Rs356.29 crore, versus Rs287.89 crore; depreciation increased to Rs27.27 crore from Rs22.62 crore.

• Proposed dividend was Rs43.54 crore, with Rs4.44 crore dividend tax; the stated effective payout including tax was about 74% of paid-up capital.

Outlook and guidance

• All 1,725 wagons under World Bank Tranche I were expected by July 2001; 1,500 had been received by March 31, 2001.

• Terminals at Balasore, Tatanagar, Bhusawal, Jodhpur, Jaipur, Miraj, Khodiyar and Salem were progressing and due to be commissioned soon.

• Work continued on the Dadri terminal, Tughlakabad bonded warehouse and ROH facility, Dronagiri Node terminal, and Chennai bonded warehouse and paving.