SCI Q2 net profit reaches ₹291 crore

MUMBAI : Disinvestment-bound Shipping Corporation of India Ltd (SCI) on Friday (November 8) reported a multi-fold rise in its consolidated net profit to ₹291.44 crore for the second quarter ended September 2024.

The shipping company had reported a net profit of ₹ 65.73 crore in the corresponding quarter of the previous fiscal, it said in a BSE filing. SCI’s total income rose to ₹1,491.23 crore during the quarter under review from ₹1,161.89 crore in the year-ago period.

Total expenses also increased to ₹1,195 crore from ₹1,113 crore earlier. The shareholders of the company approved the dividend of ₹0.50 per equity share(face value ₹10/-each). SCI is the largest Indian shipping company and the only Indian firm engaged in the transportation of LNG.

Shares of Shipping Corporation of India Ltd ended at ₹212.40, down by ₹8.85, or 4.00% on the BSE.

Total expenses also increased to ₹1,195 crore from ₹1,113 crore earlier. The shareholders of the company approved the dividend of ₹0.50 per equity share(face value ₹10/-each). SCI is the largest Indian shipping company and the only Indian firm engaged in the transportation of LNG.

Shares of Shipping Corporation of India Ltd ended at ₹212.40, down by ₹8.85, or 4.00% on the BSE.