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Shipping Corporation Q1 net profit zooms 70% to ₹92 crore, revenue surges 26%
State-run Shipping Corporation of India Ltd (SCI) on Friday (August 9) reported a 69.9% year-on-year (YoY) jump in net profit at ₹291.5 crore for the first quarter that ended June 30, 2024.
Dr.G.R.Balakrishnan Aug 20 2024 Shipping News

Shipping Corporation Q1 net profit zooms 70% to ₹92 crore, revenue surges 26%

In the corresponding quarter, SCI posted a net profit of ₹171.6 crore, the company said in a regulatory filing. The company's revenue from operations increased 26.2% to ₹1,514.3 crore against ₹1,200.1 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA jumped 40.4% to ₹509.7 crore in the first quarter of this fiscal over ₹363 crore in the year-ago period. The EBITDA margin stood at 33.7% in the reporting quarter versus 30.3% in the first quarter of FY24. EBITDA is earnings before interest, tax, depreciation, and amortisation. The results came after the close of the market hours. Shares of Shipping Corporation of India Ltd ended at ₹257.35, down by ₹0.75, or 0.29%, on the BSE