 "Shipping Corporation of India")
SCI stock falls: Vessels operator Shipping Corporation of India (SCI) shares fell as much as 3.62 per cent to hit an intraday low of Rs 226.25 per share, on Saturday.
The drop came after the company announced a weak set of fourth quarter results of financial year 2024 (Q4FY24) results.
Shipping Corporation of India’s profit dropped 19 per cent to Rs 307 crore in Q4FY24, from 380 crore in Q4FY23.
However, revenue from operations fell marginally to Rs 1,413 crore, from Rs 1,420 crore. Ebitda also decreased to Rs 407 crore, from Rs 465 crore.
SCI’s earnings before interest, taxes, depreciation and amortisation (Ebitda), also known as operating profit fell 12.3 per cent to Rs 406 crore in the fourth quarter of this fiscal year 2024, from Rs 463 crore a year ago.
Its Ebitda margin, meanwhile, came in at 28.8 per cent, from 32.7 per cent in the corresponding period in the previous fiscal year.
The board of directors have recommended a dividend of Rs 0.50 per equity share of face value of Rs 10 each, which is subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the company. The dividend, if declared, would be paid within 30 days from the date of its declaration at the AGM.
SCI is a shipping company operating break-bulk services, international container services, liquid/dry bulk services, offshore services, passenger services. Additionally, the SCI manages and manages a large number of vessels on behalf of various government departments and organisations.
The market capitalisation of SCI is Rs 10,853.12 crore, according to Bombay Stock Exchange (BSE).
The 52-week high of the stock is Rs 290.60 while its 52-week low is Rs 93.7. At 10:38 AM, shares of SCI were trading 0.75 per cent lower at Rs 233 per share. By comparison, S&P BSE Sensex was trading 0.06 per cent at 73,959 levels.
