Shares of Shipping Corporation of India today slumped over 7 per cent after the company posted standalone net loss of Rs 20 crore in the second quarter ended September 30, 2016.
The stock after a weak opening further plunged 7.21 per cent to Rs 58.50 on BSE.
On the NSE, shares of the company dropped 7.35 per cent to Rs 58.55.
The state-owned company had posted standalone net profit of Rs 161.8 crore in the July-September quarter of the 2015-16 fiscal, Shipping Corporation of India said in a BSE filing yesterday.
Its total income from operations during the quarter under review also declined to Rs 758.7 crore as against Rs 1,091 crore in the year—ago period.
The PSU has substantial interests in various segments of the shipping trade.