CONCOR, India's state-owned rail operator, has posted a year-on-year 5.5 per cent net profit increase to US$184 million in fiscal 2010-11, ending March 31.
The Container Corporation of India's (Concor) last quarterly net profit increased 15 per cent year on year to $44.7 million. Pretax profit during the same period was up to $221 million from $211 million.
Full-year core revenue from freight totalled $665 million compared with $643.5 million in fiscal 2009-10, reported the Journal of Commerce. Revenue from domestic intermodal operations rose three per cent to $184.3 million from $179.2 million year on year.
Pre-tax profit for the full fiscal year grew three per cent to $849.5 million from $823.7 million the previous year, the company said in a statement.
Concor, an offshoot of Indian Railways, is the largest intermodal logistics provider in the country, with a network of nearly 60 inland terminals. It boosted freight charges for the movement of container cargo from January 20 following a haulage tariff revision.
(Source:http://www.schednet.com)