Shares of Shipping Corporation of India Ltd (SCI) surged over 7% on Friday after the disinvestment-bound company reported a substantial rise in its consolidated net profit for Q2 FY25. SCI’s net profit increased multi-fold to ₹291.44 crore for the quarter ended September 2024, compared to ₹65.73 crore in the same period last year.
Key Financial Highlights
- Net Profit: SCI’s net profit saw a significant increase, rising from ₹65.73 crore in Q2 FY24 to ₹291.44 crore in Q2 FY25.
- Total Income: Total income rose to ₹1,491.23 crore for the quarter, up from ₹1,161.89 crore in the year-ago period.
- Expenses: Total expenses increased to ₹1,195 crore, compared to ₹1,113 crore in the previous year.
- Dividend: The company’s shareholders approved a dividend of ₹0.50 per equity share with a face value of ₹10 each.
SCI remains the largest Indian shipping company and the sole Indian player involved in LNG transportation.
As of 9:20 am, SCI shares were trading 6.95% higher at ₹227.13 on the NSE.
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