Container Corporation of India posts Q1 profit rise on volume growth

Container of India

08/08/2024 15:10

BENGALURU, Aug 8 (Reuters) - Container Corporation of India  CCRI.NS  posted a 5% rise in first-quarter profit on
Thursday, aided by strong cargo volume growth.
    Consolidated net profit rose to 2.58 billion rupees ($30.7 million) for the quarter ended June 30, from 2.46 billion
rupees a year ago. 
    For further highlights, click: (Full story)
      
    KEY CONTEXT
    Container Corp's total throughput volume in the quarter rose 6% from a year earlier. Revenue from its largest segment,
export-import, rose 7.3% to 13.22 billion rupees.
    Logistics companies like Container Corp, which provides carrier, terminal operations and warehouse businesses, have
gained from strong cargo movement into and out of the country, aided by strong commercial activity and domestic demand.  
    Larger peer Adani Ports and Special Economic Zone  APSE.NS  also reported a strong first quarter, aided by a rise in the
cargo volumes. 
        
    PEER COMPARISON  
                                      Valuation (next    Estimates (next 12    Analysts' sentiment
                                        12 months)            months)          
                           RIC        PE      EV/EBIT  Revenue      profit     Mean      # of      Stock to price   Div
                                              DA       growth %     growth %   rating*   analysts  target **        yield
                                                                                                                    (%)
 Container Corporation of   CCRI.NS    36.05    22.60     17.28       21.74    HOLD            11       0.95            1.12
 India                                                                                                              
 Adani Ports and Special    APSE.NS    28.52    18.89     14.07       24.16    BUY             17       0.92            0.40
 Economic Zone                                                                                                      
 VRL Logistics              VRLL.NS     -       11.12     13.56       54.18    BUY              9       0.79            0.92
 Allcargo Logistics         ACLL.NS    24.50     8.78     6.95       267.16    BUY              2       0.69            1.33
 
* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
    
 APRIL-JUNE STOCK PERFORMANCE  
    
   
 
      
-- All data from LSEG
-- $1 = 83.9480 Indian rupees


    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
APRIL-JUNE STOCK PERFORMANCE    https://tmsnrt.rs/3Ww4ZuJ
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Anisha Ajith in Bengaluru; Editing by Tasim Zahid)
 ((anisha.ajith@thomsonreuters.com;))