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Disinvestment-bound Shipping Corporation of India Ltd (SCI) on Friday reported a 48.81 per cent decline in its consolidated net profit to ₹124 crore for the quarter ended September 2022.
The shipping company had reported a net profit of ₹243 crore in the corresponding quarter of the previous fiscal, it said in a regulatory filing to the BSE.
Shipping Corporation of India (SCI) total income rose by 12.5 per cent to ₹1,458 crore during the quarter under review from ₹1,296 crore in the year-ago period.
The company’s total expenses also increased by 34 per cent to ₹1,336 crore from ₹997 crore earlier.
SCI said the shareholders of the company have approved dividend of ₹0.33 per equity share of face value ₹10 each.
It said the proposed strategic disinvestment of SCI is being handled by the Department of Investment and Public Asset Management (DIPAM) with the engagement of necessary advisors.
SCI is the largest Indian shipping company and the only Indian firm engaged in transportation of LNG.
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John Miller has been writing about science, gaming, and tech culture for over a decade. He’s a top-rated reviewer with extensive experience helping people find the best deals on tech and more.
