Mumbai: State-run Shipping Corporation of India (SCI) reported a 35% year-on-year decline in consolidated net profit to ₹189 crore for the second quarter of FY2025–26, from ₹290 crore in the same period last year. The company’s operational revenue slipped 8% YoY to ₹1,311 crore, largely due to subdued global freight rates and lower charter income from the tanker and liner segments.
The company’s Board of Directors approved an interim dividend of ₹3 per share, signalling continued shareholder returns over the years.
The company has been at the centre of India’s energy transport infrastructure, with a fleet of 58 vessels for transporting crude oil, gas, and other bulk commodities. The commodity market has been experiencing strong gains in the last quarter, but fluctuating prices and its operational inefficiencies have led to higher maintenance costs and reduced operational efficiencies.
The company has been heavily dependent on non-operational sources of income for its profitability, raising sustainability concerns.
Despite this, the company has managed to reduce expenses by 3% this quarter, mostly through lower service and operating costs.
The company has inducted two very large gas carriers (VLGC) into its fleet this year, strengthening its presence in the energy transportation sector for the Persian Gulf to India route.
The company’s shares have risen 2.1% on Friday, November 7, following the announcement. On a year-to-date (YTD) basis, the company’s shares have risen 25%, solidifying its position as an investor favourite, given its regular dividend payouts.
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