On August 10, shares of Shipping Corporation of India jumped more than 10 per cent after the company posted strong first-quarter earnings for FY25. Net profit surged 70 per cent year-on-year to ₹291.5 crore at the state-run enterprise. Further, revenue from operations gained 26 per cent year-on-year to ₹1,514.3 crore.
On an operating level, EBITDA for SCI surged by 40.4 percent year on year to ₹509.7 crore in Q1FY25. The company’s EBITDA margin improved to 33.7 percent during the April-June period against 30.3 percent in Q1FY24.
At 9:54 am on August 10, SCI shares were at ₹283.1 apiece on the National Stock Exchange, up 10%. This year, the stock has risen some 72%, outperforming far and away the benchmark Nifty’s return of 12%. SCI stock has yielded exemplary returns of about 170% in the last one year, way ahead of the rise of Nifty by 25% in this period.
Shipping Corporation of India is the largest and most diversified shipping company in India and a public sector undertaking, owned by the Government of India. It operates and manages vessels for both national and international routes, with the charge of central Minstry of Ports, Shipping, and Waterways. Its head Office is in Mumbai.
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Source: Moneycontrol
News Desk
