Shipping Corpn. Posts Q2 Net Loss of Rs 76.18 cr

By Religare
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    The company reported standalone net loss during the quarter stood at Rs 76.18 crore as compared to net loss of Rs 20.00 crore in the previous year quarter.

    Shipping Corpn. Posts Q2 Net Loss of Rs 76.18 cr
    Shipping Corporation of India: Quotes, News
    BSE 42.45BSE Quote0.05 (0.12%)
    NSE 42.45NSE Quote0.2 (0.47%)

    Net revenue of the company rose moderately by 7.80 per cent at Rs 808.22 crore in July-September quarter of this fiscal as against Rs 749.77 crore in the corresponding period last year.

    During July-September quarter, operating expenses increased by 9.14 per cent to Rs 682.93 crore from Rs 625.73 crore in year ago period.

    Other Income dipped by 64.61 per cent at Rs 16.64 crore versus (Sep'16 Rs 47.02 crore).

    Operating Profit slipped by 5.81 per cent to Rs 125.29 crore as against Rs 133.02 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 12.63 per cent in September quarter.

    Interest grew by 13.27 per cent y-o-y to Rs 47.37 crore, while Taxation increased by 1.41 per cent at Rs 18.00 crore (Sep'16 Rs 17.75 crore).

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