Atmanirbhar Bharat will increase exports for the company, says Concor

The company will try to achieve 80% last year’s turnover of 6500 cr which is around5200 cr but the increase in land licence fee may hit profits, says V Kalyana Rama, CMD Concor.

A part of the dedicated freight corridor (DFC) has started and it will bode well for the Container Corporation of India, said V Kalyana Rama, chairman and managing director (CMD) of the company, often abbreviated as CONCOR.

The PSU reported its third-quarter earnings beating estimates across all parameters. Profit after tax was further boosted by lower tax expense and higher other income but a one-off employee expense dents margins.

Speaking in an interview with CNBC-TV18, Rama said, “The good news is that the dedicated freight corridor (DFC) already started operating from Rewari to Madar Junction and that connects Pipavav and Mundra. However, full-scale operation has not started but now a regular running will start on DFC and the benefits will start coming to us from next financial year.”

On capex front, he said, “Capex we are not upping this year. There are certain issues like we do purchase a lot of containers, we are trying to develop indigenous container manufacturers under Atmanirbhar Bharat. So as of not it’s only Rs 500 crore for this year.”

However, Rama said there is no possibility of giving up further terminals to Indian Railways.