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Container Corporation of India Ltd.’s Q1 was an operating beat led by Exim, buoyed by volume and realization growth.
Land licence fee for the quarter was at Rs 1.13 billion, in line with the FY22 guided number of Rs 4.5 billion, though its current calculations peg a lower LLF of Rs 3.8 billion.
For FY22, Concor management has retained its guidance of a 12% topline growth and doubling of the FY21 reported profit after tax.
It has already stated plans to enter into a 35-year land lease with Indian, with a one-time payment pegged between Rs 60-70 billion.
The overhang of LLF has faded and focus is back on its business, where dedicated freight corridor remains the key long trigger, which will aid modal shift to rail.
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