Shipping Corporation standalone net profit dips 82 pc to Rs 46 cr in Q4

The country's largest shipping liner SCI Tuesday saw its standalone net profit nosedive 81.92 per cent to Rs 45.99 crore for the quarter ended March 31.

The state-owned Shipping Corporation of India (SCI) had clocked a standalone net profit of Rs 254.47 crore for the corresponding period a year-ago, it said in a regulatory filing to the BSE.

The company's total standalone income rose to Rs 1,102.51 crore during the January-March quarter as against Rs 953.25 crore in the year-ago period.

Its total expenses, however, declined to Rs 1,065.38 crore during the fourth quarter as against Rs 977.05 crore a year ago.

The company did not provide consolidated quarterly figures.

On an annual basis, it recorded a consolidated loss of Rs 62.66 crore. It had achieved a consolidated profit of Rs 306.50 crore in 2017-18.

Starting out as a marginal liner shipping company with just 19 vessels, SCI has now evolved into the country's largest shipping company.

SCI's-owned fleet includes bulk carriers, ...