Shipping Corporation of India (SCI) shares surged sharply on February 9 after the state-run shipping major reported a strong set of Q3 consolidated results, triggering heavy buying interest in early trade.
Shares of Shipping Corporation of India jumped over 11% intraday, reflecting investor optimism around a sharp improvement in profitability and operating margins.
SCI Q3 Results
For the December quarter, Shipping Corporation of India reported consolidated revenue of Rs 1,612 crore, marking a 22.5% year-on-year rise compared with Rs 1,316 crore in the same quarter last year. The revenue growth was supported by improved freight rates and better fleet utilisation across segments.
Operating performance saw a significant boost during the quarter. EBITDA surged 89.8% year-on-year to Rs 679 crore from Rs 357 crore, highlighting strong cost efficiencies and improved operating leverage. As a result, EBITDA margin expanded sharply to 42.1% from 27.2%, reflecting a margin expansion of 1,490 basis points.
Net profit witnessed a sharp jump during the quarter, rising 436.4% year-on-year to Rs 405 crore compared with Rs 75.5 crore reported in the corresponding quarter last year. The sharp increase in profit was driven by higher operating income, margin expansion and better overall financial performance.
SCI Share Price Performance
Following the Q3 earnings announcement, SCI shares saw strong intraday momentum. As of 9:50 AM, the stock traded sharply higher after opening at Rs 249.00 against a previous close of Rs 221.80.
During early trade, the stock touched a day’s low of Rs 241.55 and a day’s high of Rs 252.94, reflecting heightened volatility and strong buying interest. On a longer-term basis, SCI has a 52-week low of Rs 138.26 and a 52-week high of Rs 280.50, indicating a strong recovery trend over the past year.