• SENSEX
    NIFTY 50
VIDEOS
Earnings

CONCOR CMD: See downward revision in guidance; no information on divestment

Updated : October 31, 2019 01:47 PM IST

Container Corporation of India Ltd (CONCOR) reported flat Q2FY20 revenues and earnings before interest, tax, depreciation and amortization (Ebitda) on Thursday.

Adjusted revenues for the second quarter was up 1 percent year-on-year (YoY), while Ebitda was up 6 percent. Margins came in at 24.6 percent versus 23.4 percent YoY.

V Kalyana Rama, chairman and managing director, CONCOR, in an interview with CNBC-TV18 said that things have not improved in the second quarter as expected, the export-import volumes are still low leading to flat growth.

He added that CONCOR would be revising its guidance downwards. “We may achieve last year's volumes or maybe 1-2 percent up, while on the revenue side we could be only 4-5 percent up because of some adjustments and 5-8 percent up on PAT [profit after tax] side,” said Kalyana Rama.

With regards to demand, he said that even in the domestic market, it is flat. There is high amount of empty containers in the export-import segment.

He also confirmed that the companies does not have any information about divestment.
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV