Shipping Corp of India Q1: Net profit declines 112% to Rs 159 crore

New Delhi: State-owned Shipping Corporation of India Ltd (SCI) on Tuesday reported a 112.52 per cent decline in consolidated net profit to Rs 158.51 crore for the first quarter of the current fiscal. The company had clocked a consolidated net profit of Rs 336.87 crore in the corresponding period a year earlier, according to a regulatory filing.

Its total income declined to Rs 1,048.47 crore in the latest June quarter as against Rs 1,178.43 crore in the year-ago period.

The company's total expenses during the quarter under review increased to Rs 899.25 crore from Rs 846.85 crore in the same period last year.