Shipping Corporation of India’s net profit jumps 83% to Rs 111 cr for Q4FY20

New Delhi: State-run Shipping Corporation of India’s (SCI) consolidated net profit went up 83 percent to Rs 111 crore for the fourth quarter of 2019-20 fiscal as compared to Rs 60.68 crore in the same quarter of the previous fiscal.

SCI’s consolidated total income went up about 30 percent to Rs 1,391.85 crore for the fourth quarter of the 2019-20 fiscal as compared to Rs 1,068.62 crore in same quarter of the previous fiscal.

The total expenses of the company were at Rs 1,284.35 crore for the fourth quarter of the 2019-20 fiscal as compared to Rs 1,031.48 crore in the same quarter of the previous fiscal.

For the entire fiscal 2019-20, SCI incurred a consolidated net profit of Rs 336.48 crore as compared to a net loss of Rs 62.66 crore in the previous fiscal, the company said in a statement.

The revenues for the fiscal 2019-20 were not impacted to the corona pandemic as the pandemic started in late March 2020. Even going forward, there will be no significant impact on the operations of the company due to the Covid19.

In the fourth quarter of 2019-20 fiscal, SCI sold off its vessel MT Maharaja Agrasen DWT 1,47,474. 

 

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