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Why CONCOR's stock fell 2% on Thursday
CONCOR's stock dropped 2% to ₹543.70 on Thursday morning, right after the company posted its June quarter results.
Operating profit at a 5-quarter low
Even though revenue ticked up a bit—revenue rose 2.4%—investors weren't impressed, mainly because operating profit fell to a five-quarter low and the company's debtor turnover ratio slipped.
That combo made people cautious about what's next.
Interim dividend of ₹1.60 per share announced
CONCOR announced an interim dividend of ₹1.60 per share, set for payout on August 13,
and the board is planning to bring in a new secretarial auditor for the next five years (pending shareholder approval).