SCI

The shipping major reported a 183.9 per cent jump in Q4FY23 net profit to Rs 359.83 crore when compared with Rs 126.74 crore in Q4FY22

Disinvestment-bound Shipping Corporation of India Ltd (SCI) on Friday reported a 48.81 per cent decline in its consolidated net profit to Rs 124 crore for the second quarter ended September 30, 2022. The shipping company had reported a net profit of Rs 243 crore in the corresponding quarter of the previous fiscal, it said in a regulatory filing to the BSE. SCI's total income rose to Rs 1,458 crore during the quarter under review from Rs 1,296 crore in the year-ago period. Total expenses also increased to Rs 1,336 crore from Rs 997 crore earlier. SCI said the shareholders of the company have approved dividend of Rs 0.33 per equity share of face value Rs 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. SCI is the largest Indian shipping company and the only Indian firm engaged in transportation of LNG.

State-owned Shipping Corporation of India on Monday said its board has approved certain modifications in the scheme of arrangement for demerger of the company's non-core assets

In the scheme for demerger of non-core assets announced by SCI, certain changes, including extra surplus cash, had to be approved, the official said

As part of the strategic-sale process, the government is hiving off Shipping House and the training institute in Pune and some other non-core assets of Shipping Corporation of India (SCI).

Tax implication of bearing the flag has been a sticking point for suitors

Shipping Corporation of India, Pawan Hans, Nilanchal Ispat Nigam among targets: Tuhin Kanta Pandey.

SCI reported consolidated net sales of Rs 1,25,761 crore in December quarter, up 17 per cent over the same period last year

He takes charge with effect from September 12, 2016 for a period of three years

Dry bulk carrier prices at 30-year low in prolonged shipping downturn