Container Corporation of India 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.
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 also reported a strong first quarter, aided by a rise in the cargo volumes.