SCI Profit doubles to Rs. 377.29 Crores

The Shipping Corporation of India Ltd (SCI), India’s largest shipping company and a Government of India Public Sector Undertaking, has nearly doubled it’s net profit to Rs. 377.29 Crores for the year ended 31st March 2016 as against a net profit of Rs.200.93 Crores in the previous year. Despite providing for an impairment loss of Rs. 136.38 Crores SCI has posted an impressive profit of Rs. 377.29 Crores The overall financial performance of the company has also improved with enhanced Net worth and Earning Per Share.

The profit of SCI is creditable as there has been an unprecedented down turn in the dry bulk and container shipping sector worldwide.

SCI prides in having a diversified fleet of 69 vessels of 5.89 mn dwt with an average age of below 10 years. SCI has been able to maintain her tonnage over the year and is aspiring to cross the 6 million DWT mile stone in near future.