The Shipping Corporation of India on Wednesday reported narrowing of consolidated loss to Rs 40.91 crore for the quarter which ended on September 30, 2019. The company had posted a consolidated loss of Rs 124.51 crore in the year-ago period, according to a BSE filing.
The total synthesized income of the company in the July-September quarter marginally increased to Rs 1,064.28 crore from Rs 1,052.11 crore in the year-ago period. The shipping company also has substantial interests in various segments of the shipping trade.
The 2014-15 results were a huge turnaround for the country’s largest shipping line, which incurred three consecutive loss bearing years; it lost nearly $50 million in 2013-14. In an earnings statement filed with the Bombay Stock Exchange Thursday, the company said its yearly income from operations, including acquired profit from disposal of ships, amounted to $677 million, down 2 percent year-over-year from $692 million. Net sales for the full year remained flat, at $652 million, according to the statement.
SCI currently has a fleet of 69 vessels with a total cargo-carrying capacity of about 5.89 million deadweight tons. Its owned fleet consists of bulk carriers, crude oil tankers, product tankers, container vessels, passenger-cum-cargo vessels, phosphoric acid/chemical carriers, LPG / ammonia carriers and offshore supply vessels.