SCI bottomline buoyed 74.79% at Rs 133 crore

Shipping Corporation of India Ltd has posted a 74.79 per cent rise in net profit at Rs 133.23 crore for the third quarter ended December 31, 2003, compared with Rs 76.22 crore reported in the same period of the previous fiscal.

Net sales in the period under review also increased to Rs 731.23 crore as against Rs 594.71 crore in Q3 of the previous fiscal, SCI said in a release.

For the nine months ended December, net profit and net sales grew to Rs 369.85 crore (Rs 147.29 crore in same period of FY-03) and Rs 2,235.34 crore (Rs 1,714.54 crore) respectively.

In Q3, the revenue from liner segment was higher at Rs 194 crore (Rs 175.06 crore) while it was Rs 527.33 crore (Rs 411.55 crore) for the bulk segment.

In the quarter, SCI, which is on government's divestment list, had declared an interim dividend of 170 per cent. Recently, the government allowed SCI to proceed with big investments for its expansion.