Profit Climbs at Indian Rail Operator

Profit Climbs at Indian Rail Operator

State-owned rail operator Container Corporation of India posted fiscal 2013 consolidated net profit of $167.5 million, up 7.5 percent from a year earlier. Revenue rose 8.5 percent to $800 million, while operating profit increased 3 percent to $216.5 million.

Income from the core international freight hauling business grew 8.5 percent to $637 million, and income from the domestic intermodal segment jumped 9 percent to $156 million.

The company’s operating expenses for the year ending March 31 totaled $643 million, up about 10 percent from fiscal 2012. Rail-haulage costs surged 11 percent year-over-year to $463.4 million, accounting for 58 percent of total sales.

Concor’s net profit in the last quarter fell 1 percent to $40.6 million.

The company, an offshoot of Indian Railways, is the largest intermodal logistics provider in the country with a network of about 60 inland terminals.