Shipping Corporation of India Q3 Results: Shares declines amid Net profit falls by 44% to Rs 76 crore

Shipping Stock, the Shipping Corporation of India Ltd, reported a year-on-year decline of 43.8% in net profit, which amounted to Rs 75.5 crore for the third quarter ending December 31, 2024. In the same quarter of the previous fiscal year, the company posted a net profit of Rs 134.4 crore, as stated in a regulatory filing.

Additionally, the company's revenue from operations decreased by 1.9%, reaching Rs 1,315.6 crore compared to Rs 1,340.7 crore during the corresponding period last year.

At the operational level, EBITDA fell by 14.3% to Rs 357.3 crore in the third quarter of this fiscal year, down from Rs 416.9 crore in the same period of the previous fiscal year.

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EBITDA margin stood at 27.2% in the reporting quarter as compared to 31.1% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Shares of Shipping Corporation of India Ltd ended at Rs 192.30, down by Rs 2.55 or 1.31% on the BSE.

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