Shipping Corporation of India (SCI) posted a 77.4% surge in consolidated net profit to Rs 152.16 crore in Q4 FY22 from Rs 85.76 crore registered in Q4 FY21.
Revenue from operations grew 50.2% to Rs 1,314.52 crore in Q4 FY22 from Rs 875.39 crore posted in Q4 FY21. Profit before tax soared 98.2% to Rs 162.45crore in Q4 FY22 over Q4 FY21. Total expenses were up by 51.4% year on year to Rs 987.65 crore in the quarter ended 31 March 2022.On full year basis, the Indian shipping company posted a 24.3% rise in net profit to Rs 865.22 crore on 34.9% increase in revenue from operations to Rs 4,994.93 crore in the financial year ended 31 March 2022 over financial year ended 31 March 2021.
Meanwhile, the company's board recommended a dividend of Re 0.33 per equity share for the financial year ended 31 March 2022.
SCI is the largest Indian shipping company. It owns and operates around one-third of the Indian tonnage, and has operating interests in practically all areas of the shipping business; servicing both national and international trades.
As on 31 March 2022, the Government of India held 63.75% in SCI.
Shares of Shipping Corporation of India closed 3.11% lower at Rs 124.50 on Friday.
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