Shipping Corporation of India Q2, shares falls by 8%, net profit at Rs 291.4 crore

Shipping Corporation of India Ltd (SCI) has reported a huge rise in its consolidated net profit to Rs 291.44 crore for the second quarter ended September 2024. The shipping company had reported a net profit of Rs 65.73 crore in the corresponding quarter of the previous fiscal, it said in a BSE filing.

The Shipping Company's total income rose to Rs 1,491.23 crore during the quarter under review from Rs 1,161.89 crore in the year-ago period. Total expenses also increased to Rs 1,195 crore from Rs 1,113 crore earlier. The shareholders of the company approved the dividend of Rs 0.50 per equity share(face value Rs 10/-each).

SCI is the largest Indian shipping company and the only Indian firm engaged in the transportation of LNG. Shares of Shipping Corporation of India Ltd ended at Rs 212.40, down by Rs 8.85, or 4.00% on the BSE.

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