Shipping Corporation Profit Drops 42% to Rs 65.7 Crore in Q2

New Delhi, Nov 4 (PTI) Disinvestment-bound Shipping Corporation of India Ltd (SCI) on Friday reported a 42.53 per cent decline in consolidated net profit to Rs
65.73 crore for the September quarter.

The company had reported a net profit of Rs 114.38 crore in the year-ago period, it said in a regulatory filing to the BSE.

SCI's total income rose to Rs 1,661.89 crore during the quarter under review from Rs 1,458 crore last year.

The company's total expenses decreased to Rs 1,113.49 crore from Rs 1,330.80 crore earlier.

SCI said shareholders of the company have approved dividend of Rs 0.44 per equity share of face value Rs 10 each.

SCI is the largest Indian shipping company and the only Indian firm engaged in transportation of LNG.