Monopoly player, Concor reported a 1.7% YoY decline in handling volumes for Q3 as against industry performance of +4% YoY. It continued to lose market share this year hitting 67% vs 73% a year ago.
15% additional capex was incurred for Gujarat port line in the last 8 months. Around 15% of work is pending and Mar’20 deadlines may be delayed.
The company is intentionally not participating in low-margin short-haul routes which has helped them post good margin performances. The management reduced its year-start projection of 10-12% volume growth to 0-2% post Q2 results, so overall earnings are expected to remain weak.
Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.
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