Disinvestment-bound Shipping Corporation of India Ltd (SCI) on Friday 4 Nov reported a 48.81 per cent decline in its consolidated net profit to ₹124 crore for the quarter ended September 2022.
The shipping company had reported a net profit of ₹243 crore in the corresponding quarter of the previous fiscal, it said in a regulatory filing to the BSE.
Shipping Corporation of India (SCI) total income rose by 12.5 per cent to ₹1,458 crore during the quarter under review from ₹1,296 crore in the year-ago period.
The company’s total expenses also increased by 34 per cent to ₹1,336 crore from ₹997 crore earlier.
SCI said the shareholders of the company have approved dividend of ₹0.33 per equity share of face value ₹10 each.
It said the proposed strategic disinvestment of SCI is being handled by the Department of Investment and Public Asset Management (DIPAM) with the engagement of necessary advisors.