The Hindu Business Line : SCI Q4 net jumps to Rs 611.13 cr

FIRM freight market trends in the first three quarters of the last fiscal enabled Shipping Corporation of India (SCI) to register a net profit of Rs 1,419.91 crore in 2004-05 against Rs 626.99 crore in 2003-04.

In view of the adoption of tonnage tax scheme, no provision was required for deferred tax liability/asset for 2004-05 and the balance in deferred tax liability account, amounting to Rs 295.48 crore, was transferred to the profit and loss account of the company.

The company's income during the year was Rs 3,645.78 crore, compared to Rs 2,999.27 crore in the previous fiscal.

SCI's board of directors, which met on Monday, has recommended a final dividend of Rs 3 per share, over an above the interim dividend of Rs 4 per share that was declared in October 2004. The total outflow on account of the Rs 7 per share dividend would be about Rs 197 crore for the company.

In the last quarter of 2004-05, SCI's net profit and income touched Rs 611.13 crore and Rs 958 crore respectively, against Rs 257.14 crore and Rs 849.88 crore in the previous fiscal.

The bulk segment continued to be the mainstay of SCI's revenue, touching Rs 2,868 crore, against Rs 2,292.88 crore in the previous year, while the liner segment fetched Rs 642.35 crore, against Rs 560.62 crore.

The liner segment includes break-bulk and container transport, while the bulk segment includes tankers (both crude and product, dry bulk carriers, gas carriers and phosphoric acid carriers).

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Ind-Swift posts Rs 9-cr Q4 net

NTPC net rises 67 pc

SCI Q4 net jumps to Rs 611.13 cr

TVS-E net dips in Q4