Shipping Corporation Of India on Tuesday reported a rise of 154 per cent in net profit to ₹376.9 crore for the quarter ended March 2023. This is against a net profit of ₹148 crore in the corresponding quarter last fiscal.

The revenue from operations rose by up 8.3 per cent at ₹1,418.1 crore for the quarter under review as compared to ₹1,309 crore as per the regulatory filing.

The Board has recommended a dividend of Re 0.44 per equity share of face value of Rs.10 each, i.e., 4.40% per share, subject to the approval of the shareholders. The said dividend if declared would be paid within 30 days from the date of its declaration at the AGM.

Shipping Corporation Of India’s operating profit, i.e., earnings before interest and tax, depreciation and amortization (EBITDA) was down 42.2 per cent year-on-year at ₹464.5 crore as compared to ₹326.7 crore, while the margins came in at 32.8 per cent.

Shipping Corporation of India (SCI) total income rose by 7 per cent to ₹1452.21 crore during the quarter under review from ₹1355.12 crore in the year-ago period.

The company’s total expenses declined to ₹1,198.65 crore from ₹1217.74 crore earlier.

On Tuesday, the company’s scrip ended 1.86 per cent down at ₹94.53 on BSE.
Source: Livemint