Shipping Corporation of India Sees Major Profit Surge in June Quarter

State-owned Shipping Corporation of India (SCI) reported a significant 69.85% increase in net profit to Rs 291.48 crore for the June 2024 quarter, compared to Rs 171.61 crore a year ago. The company's total income rose to Rs 1,558.44 crore, with expenses hitting Rs 1,264.72 crore.

State-owned Shipping Corporation of India (SCI) reported a 69.85 per cent jump in its net profit, amounting to Rs 291.48 crore, for the quarter ending June 2024.

This represents a significant rise from the Rs 171.61 crore profit posted in the corresponding quarter a year ago, the company revealed in its regulatory filing.

The firm's total income from operations increased to Rs 1,558.44 crore, up from Rs 1,227.07 crore in the year-ago period, while total expenses also rose to Rs 1,264.72 crore compared to Rs 1,069.97 crore a year earlier. SCI, under the Ministry of Ports, Shipping and Waterways, remains India's largest shipping company.