Shipping Corporation Of India Q4: Net Income at ₹376.96 Cr Dividend Declared

The Shipping Corporation of India on Tuesday reported a 154 percent increase in net profit 376.9 crore for the quarter ended March 2023. This has a net gain of 148 crore in the corresponding quarter of the most recent fiscal year.

Operating income increased by 8.3 percent 1,418.1 crore for the quarter compared to 1,309 crore according to regulatory filings.

The Board has recommended a dividend of Rs 0.44 per Rs 10 par share, or 4.40% per share, subject to shareholder approval. Said dividend, if declared, would be paid within 30 days from the date of its declaration at the general meeting.

The Shipping Corporation Of India’s earnings before interest, taxes, depreciation and amortization (EBITDA) fell 42.2 percent year-on-year 464.5 crore compared to 326.7 crore while margins came in at 32.8 percent.

The Shipping Corporation of India (SCI) total revenue rose 7 percent 1452.21 crore in the quarter under review of 1355.12 crore in the same period last year.

The overall costs of the company went down 1,198.65 crore from 1217.74 crore earlier.

The company’s share price ended Tuesday down 1.86 percent 94.53 for BSE.

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