CONCOR share price rises after Q1 profit surges 409% to Rs 251 crore

Container Corporation of India’s total income during the April-June quarter increased to Rs 1,876.79 crore from Rs 1,251.50 crore in the year-ago period. Expenses stood at Rs 1,536 crore as compared to Rs 1,179.71 crore earlier.

Container Corporation of India Ltd. (CONCOR), was incorporated in March 1988 under the Companies Act, and commenced operation from November 1989 taking over the existing network of 7 ICDs from the Indian Railways. [Representative image]

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Container Corporation of India (CONCOR) share price jumped more than 4 percent in the morning session on July 30, a day after the state-owned firm reported a 409.67 percent surge in consolidated net profit to Rs 251.22 crore for the first quarter ended June 30.

It had clocked a net profit of Rs 49.29 crore in the year-ago period, the multi-modal logistics company said in a regulatory filing.

The total income during the April-June FY22 quarter increased to Rs 1,876.79 crore from Rs 1,251.50 crore a year ago. Expenses stood at Rs 1,536 crore as compared to Rs 1,179.71 crore earlier.

The stock was trading at Rs 647.20, up Rs 16.90, or 2.68 percent at 1010 hours. It has touched an intraday high of Rs 665.15 and an intraday low of Rs 643.80.

It was trading with volumes of 161,687 shares, compared to its five-day average of 57,141 shares, an increase of 182.96 percent.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has a low debt with foreign institutional investors or institutions increasing their shareholding.

Moneycontrol technical rating is very bearish with moving averages being neutral and technical indicators bearish.

Disclaimer: Moneycontrol.com advises users to check with certified experts before taking any investment decisions.