Shipping Corporation reports 73% fall in Q1 net profit

Shipping Corporation of India (SCI) has reported results for first quarter ended June 30, 2016.

The company has registered 72.56% fall in its net profit at Rs 55.91 crore for the quarter as compared to Rs 203.78 crore for the same quarter in the previous year. Total income of the company decreased by 21.67% at Rs 875.94 crore for quarter under review as compared to Rs 1118.22 crore for the quarter ended June 30, 2015.

SCI is the only Indian shipping company operating break-bulk service, international container service, liquid / dry bulk service, offshore service, passenger service, in addition to manning / managing a large number of vessels on behalf of various government departments and organizations.