(Reuters) -Container Corporation of India reported a 1.6% fall in fourth-quarter profit on Thursday, hurt by a revenue drop in its domestic cargo services.
The state-run rail logistics company’s consolidated net profit fell to 2.99 billion rupees ($34.78 million) for the three months ending March 31, from 3.03 billion rupees a year ago.
Revenue from its domestic segment, which provides logistics services within India, shrunk about 10%, pushing down its overall revenue by 1.6% to 22.89 billion rupees.
For further earnings highlights, (click here).
KEY CONTEXT
Overall volume growth across India’s logistics sector likely slowed in the quarter, as weak global trade and subdued demand in sectors such as autos, FMCG, and apparel weighed on activity, analysts said.
The share of cargo moved by rail declined, with more export-import volumes shifting to road transport, they added.
PEER COMPARISON
Valuation (next 12 Estimates (next 12 Analysts’ sentiment
months) months)
RIC PE EV/EBI Price/ Revenue Profit Mean # of Stock to Div
TDA Sales growth(%) growth(% rating* analyst price yield
) s target** (%)
Container 29.39 18.35 NULL 13.64 14.30 HOLD 9 0.94 1.61
Corporation of
India
VRL Logistics 25.28 9.53 NULL 9.52 21.25 STRONG 9 0.85 0.91
BUY
Mahindra Logistics 46.55 6.85 NULL 15.34 NULL HOLD 10 1.01 0.76
Aegis Logistics <AEGS.NS< 44.27 25.87 NULL 11.32 21.78 BUY 3 1.18 0.58
* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PT
JAN-MARCH STOCK PERFORMANCE
— All data from LSEG IBES
($1 = 85.9690 Indian rupees)
(Reporting by Aleef Jahan; Editing by Sahal Muhammed)
