Sucheta Dalal :SCI Q2 profits tumble by 88%
Sucheta Dalal

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SCI Q2 profits tumble by 88%  

October 31, 2009

Shipping Corporation of India (SCI), the country’s largest shipping company, has reported an 88% dip in second quarter net profits due to lower freight rates.

“Fluctuation in the freight rates has affected SCI’s performance quite badly,” said S Hajara, chairman and managing director, SCI.

For the second quarter to end-September, the State-run shipping company reported a net profit of Rs3.30 crore from Rs27.4 crore, same period last year. During the period, SCI’s total revenues, including sales, fell to Rs90.90 crore from Rs128.50 crore.

For the first half to end-September, the shipping company reported a net profit of Rs15.40 crore from Rs55.50 crore.
- Amritha Pillay [email protected]


-- Sucheta Dalal



 



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