SCI’s Q1 net profit jumps 70% to Rs 292 crore

MUMBAI : Shipping Corporation of India (SCI) on August 9 reported a 70 percent jump in net profit at Rs 291.5 crore in the first quarter of FY25, compared to Rs 171.6 crore in the year-ago period, the company said in an exchange filing.

The net profit in the June quarter recorded a decline from at Rs 307.3 crore in the March quarter, the filing showed. The state-run company’s revenue from operations rose 26.2 percent to Rs 1,514.3 crore in the quarter under review over Rs 1,200.1 crore in the corresponding period of the previous financial year, according to the filing.

The firm’s EBITDA jumped 40.4 percent to Rs 509.7 crore in the June quarter against Rs 363 crore in the year-ago period. The margin came in at 33.7 percent in Q1FY25 against 30.3 percent in Q1FY24. The shares of the company ended flat on August 9 at RS 257.95, down 0.06 percent on the NSE.

In June, the strategic sale of SCI may finally take off with no further delay following the approval on stamp duty waiver from Maharashtra and the general elections being over.