Shipping Corporation of India reports 53% fall in Q1 consolidated net profit

Shipping Corporation of India has reported results for first quarter ended June 30, 2021.

The company has reported a fall of 54.10% in its net profit at Rs 145.73 crore for the quarter under review as compared to Rs 317.48 crore for the same quarter in the previous year. Total income of the company decreased by 11.03% at Rs 1048.46 crore for Q1FY22 as compared to Rs 1178.43 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a fall of 52.95% in its net profit attributed to the owners at Rs 158.51 crore for the quarter under review as compared to Rs 336.87 crore for the same quarter in the previous year. Total income of the company decreased by 11.03% at Rs 1,048.47 crore for Q1FY22 as compared to Rs 1,178.43 crore for the corresponding quarter previous year.