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State-run Shipping Corporation of India (SCI) has reported a net loss of Rs 123.6 crore for the quarter ended September 30, 2013.
The company had posted a net profit of Rs 297 crore in the corresponding quarter of the previous fiscal, SCI today said in a filing to the BSE.
The expenditure of the company overshot its total income.
SCI’s total income fell to Rs 1,056.40 crore from Rs 1,195 crore. But the total expenditure was Rs 1,134.50 crore against Rs 1,245.50 crore in the same quarter of FY’13.
The dip in total income was due to lower other operating income and lower profit on sale of ships.
While the other operating income during the quarter was Rs 14.60 crore against Rs 108.61 crore in the same period last fiscal, the profit on sale of ships was Rs 6.37 crore crore (Rs 60.70 crore).
SCI also said in another filing to BSE about the reappointment of three non-official directors on the company’s board.
“Three persons have been re-appointed as part-time non-official directors (Rear Admiral (Retd) T.S. Ganeshan, Arun Ramanathan and Arun K. Verma) on the board of the company,” it said.
The shares of SCI ended at Rs 34.75 apiece on the BSE, down 3.07 per cent from the previous close.
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