India`s Container Corp posts 1.5pc profit decline in fiscal 2009

CONTAINER Corporation of India has recorded a year-on-year 1.5 per cent decline in net profit to INR778.6 crore (US$175 million) for the fiscal year ending March 31 from the INR791.2 crore profit the year before.
Revenue increased from INR3,628 crore to INR3,863.9 crore, RTT News reported, suggesting the possibility of a turnaround for the cargo handler.
Recent figures also supported the prospect of recovery, with fourth quarter income up by INR97.7 crore year on year.
Constrained by heavy operating costs, Container Corp failed to increase its net profits for the most recent quarter on an annual basis.