Shipping Corp Q4 net declines 19%

Shipping Corporation of India (SCIL) has posted a 19% drop in net profit at Rs 284.65 crore for the quarter ended March 31, 2007 when compared with  Rs 350.13 crore in Q4FY06.

According to an official release issued by the company to the Bombay Stock Exchange today, total income during this period also dropped 7% to Rs 1080.56 crore for Q4FY07 from Rs 1159.77 crore for Q4FY06.

SCIL's net profit for FY07 declined 3% to Rs 1014.58 crore from Rs 1042.20 crore in FY06. However, total income increased 12% to Rs 4210.36 crore from Rs 3762.33 crore in FY06.

The board of the company announced final dividend of Rs 8.5 per share, the release said.