Board of Navratna company fixes record date for interim dividend for FY 2022-23

06 Aug , 2022 By : Kanchan Joshi

Container Corporation of India Ltd is a Navratna company under the ownership of Indian Railways, Ministry of Railways, Government of India. The company is responsible for managing ports, air cargo complexes, and building cold-chains in addition to providing inland rail transit for containers. The company has a market cap of Rs. 41,757.99 Cr. and is a large cap company in its sector.

The company has said in a regulatory filing that “The Board has declared an Interim Dividend for FY 2022-23 of 40% i.e. Rs.2.00 per equity share of face value of Rs.5/- each amounting to Rs.121.86 crores. The record date for the purpose of payment of Interim Dividend has been fixed as 18.08.2022. The Interim dividend will be paid/ dispatched to the shareholders on or after 23.08.2022. The payment of dividend will be made within 30 days of its declaration."

For the Q1FY23, the company posted a consolidated net income of Rs. 2062.50 crores as compared to Rs1,876.79 Cr in the same period of last year a rise of 9.90% YoY whereas the company posted a standalone net income of Rs2,041.20 Cr in Q1FY23 compared to Rs1,863.06 Cr in Q1FY22 a growth of 9.56% YoY. The company's total expenses reached Rs1,668.02 Cr on a consolidated basis compared to Rs1,536.02 Cr in the same quarter of last year, a growth of 8.60% YoY whereas total expenses on a standalone basis reached Rs1,651.12 Cr in Q1FY23 compared to Rs1,518.25 Cr in the same quarter of the last year, a growth of 8.75% YoY. On a consolidated basis the company posted a profit before tax (PBT) of Rs394.48 Cr in Q1FY23 compared to Rs340.77 Cr in Q1FY22, a growth of 15.76% YoY and on a standalone basis the PBT reached Rs390.08 in Q1FY23 compared to Rs344.81 Cr in Q1FY22, a growth of 13.12% YoY. On a standalone basis, the profit after tax (PAT) of the company reached Rs291.31 Cr in Q1FY23 compared to Rs254.87 Cr in the same quarter of last year, a growth of 14.30% YoY and on a consolidated basis the PAT reached Rs296.83 Cr in Q1FY23 compared to Rs258.44 Cr in the same quarter of the last year, a growth of 14.85% YoY. The company's EPS reached Rs4.87 in Q1FY23 compared to Rs4.24 in the same quarter of last year.

The shares of Container Corporation of India Ltd closed today at Rs686.00 apiece, up by 0.96% from the previous close. On a YTD basis, the stock has gained 10.68% so far in 2022.