 "Shipping Corp Q1 net profit jumps over three-fold to Rs 164 cr")
The largest domestic ship liner had recorded a net profit of Rs 49.49 crore, SCI said in a regulatory filing.
The total income from operations was at Rs 1,056.46 crore, registering a decline of 2.7 per cent, from Rs 1,086.88 crore in the year-ago period.
Also Read
The total expenses declined to Rs 870.64 crore as against Rs 1,080.06 crore a year ago.
"Further, the company, while calculating the depreciation for the quarter, has adopted the residual value of all the vessels at 5 per cent of initial cost of vessels as against Re 1 considered earlier, keeping in view the actual realisation in the past...
"... Consequent to the change, the depreciation of the quarter ended June 30, 2015 is lower and profit for the quarter is higher by (Rs) 5,036 lakh," SCI said.
The revenue from the bulk segment increased to Rs 805.91 crore, over Rs 740.97 crore in the year-ago period, it said.
The company's shares closed 2.18 per cent down at Rs 71.65 apiece on the BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%