Shipping Corporation of India (SCI) today reported more than seven-fold jump in net profit at Rs 101.49 crore for the quarter ended March 31, 2015 due to gains from sale of ships.
The largest domestic ship liner had recorded a net profit of Rs 13.24 crore in the year-ago period.
Total income from operations fell to Rs 1,076.96 crore in the fourth quarter of 2014-15 from Rs 1,281.94 crore in the corresponding period of the previous year, the company said in a BSE filing.
The company’s profit from sale of ships during the quarter stood at Rs 35.03 crore. Total expenditure fell to Rs 948.97 crore from Rs 1,244.26 crore.
For the full year 2014-15, SCI has recorded a net profit of Rs 200.93 crore. It had registered a net loss of Rs 274.66 crore in 2013-14.
Total income from operations during last fiscal stood at Rs 4,310.97 crore which included Rs 120.55 crore from sale of ships. In 2013-14, the company recorded a total income of Rs 4,405.17 crore.
Shares of the company closed at Rs 56.75 apiece on the BSE, up 0.09 per cent from the previous close.