Days after the state-owned Container Corporation of India (CONCOR) recorded the highest ever revenue in the fourth quarter, the chairman and managing director of the firm, V Kalyana Rama, said they expect a land licensing fee (LLF) of Rs 450 crore this financial year.
“The total land licensing fee that we have paid is over Rs 650 crore, but this year we are sure it will be Rs 450 crore because we have rightsized our land,” he told CNBC-TV18.
On expenditures of the firm as it inches closer to disinvestment, Kalyana Rama said, “We did a lot of booking of one-time expenditures.” He called it cleaning of the balance sheet before the strategic divestment.
CONCOR’s chairman said that for them employee expenses are higher because of medical insurance liability. The company provides 100 percent medical to all the retired employees just as it provides medical benefits to current employees, he said. “But this time, since we are going for strategic divestment, we have cleared off all the liabilities in this year,” Rama added.
Rama also spoke about CONCOR’s maintained market share in export and import.
Source : CNBC
