Shipping Corporation of India Ltd Share Price – NSE /  BSE

Shipping, Small Cap

Profit before tax (PBT) stood at Rs 298.42 crore in Q2 FY25, up 304.75% as compared with Rs 73.73 crore in Q2 FY24.

Total expenses increased 7.33% YoY to Rs 1195.11 crore in Q2 FY25. Cost of service rendered stood at Rs 778.02 crore (up 12.2% YoY), employee benefit expense was at Rs 122.68 crore (up 5.4% YoY), finance cost stood at Rs 43.20 crore (down 22.37% YoY) during the period under review.

Meanwhile, the company’s board approved the appointment of chief financial officer (CFO) as chief financial officer (CFO) with effect from 1 January, 2025. However, current chief financial officer, Natarajan Prakaash Subramanya will continue to hold the position of CFO till 31 December 2024. Thus, he will cease to be the chief financial officer with effect from 01 January 2025.

The Shipping Corporation of India (SCIL) is a national carrier, with the Government of India (GoI) holding 63.75% of the equity as on 30 September 2024. SCIL is the largest Indian shipping company in terms of capacity with a diversified fleet profile. The company is diversified in terms of its business segments, namely, crude oil/product tankers, dry bulk, offshore services, and container operations. The company also has a presence in passenger vessels, chemicals and gas transportation.

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Net profit of Shipping Corporation of India rose 343.39% to Rs 291.44 crore in the quarter ended September 2024 as against Rs 65.73 crore during the previous quarter ended September 2023. Sales rose 32.71% to Rs 1450.76 crore in the quarter ended September 2024 as against Rs 1093.20 crore during the previous quarter ended September 2023.

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Shipping Corporation of India will hold a meeting of the Board of Directors of the Company on 8 November 2024.

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Shipping Corporation of India announced that the 74th Annual General Meeting (AGM) of the company will be held on 18 September 2024.

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