Shipping Corp's Q1 profit plunges 72 pc to Rs 55.9 cr

Shipping Corporation of India's net profit dived 72.56 per cent to Rs 55.91 crore for the quarter ended on June 30, 2016, compared to the same period last year.
The PSU had posted a net profit of Rs 203.78 crore for the quarter ended June 30, 2015.
Total income fell to Rs 875.94 crore for the quarter ended on June 30, 2016, from Rs 1,118.22 crore for the quarter ended June 30, 2015, Shipping Corporation of India said in BSE filing today.
Shipping Corporation of India was established on October 2, 1961, by the amalgamation of Eastern Shipping Corporation and Western Shipping Corporation.