Shipping Corporation of India (SCI) on Thursday reported a 23 per cent decline in its consolidated profit to Rs 85.76 crore for the fourth quarter ended March 2021. The state-owned company had clocked a consolidated profit of Rs 111 crore for the corresponding quarter in 2019-20, it said in a regulatory filing.

Its total consolidated income declined to Rs 900.73 crore during the quarter under review as against 1,391.85 crore in the year-ago period.

Total expenses were also lower at Rs 838.57 crore during the quarter compared to Rs 1,284.35 crore a year ago.

For the full FY21, the company reported a consolidated profit of Rs 696. 09 crore.

It had recorded a profit of Rs 336.48 crore during 2019-20.

As the country’s premier shipping line SCI 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.

Source: Economic Times