Shipping Corporation rises 12% on reporting multi-fold jump in Q2 profit

Shipping Corporation of India shares advanced 11.9 per cent on Monday (November 11) and logged an intraday high at Rs 232 per share on BSE. The buying interest in the stock came after the company reported strong Q2FY25 results.

 

Around 9:20 AM, Shipping Corporation of India's share price was up 7.44 per cent at Rs 228.2 per share on BSE. In comparison, the BSE Sensex was down 0.43 per cent at 79,146.65. The market capitalisation of the company stood at Rs 10,762.29 crore. The 52-week high of the stock was at Rs 384.8 per share on BSE and 52-week low of the stock was at Rs 131.1 per share.

 

On Friday, after market hours, Shipping Corporation of India reported a 343 per cent rise in consolidated net profit to Rs 291.44 crore in Q2 as compared to Rs 65.73 crore a year ago. 

 

The revenue from operations grew 32.7 per cent for the quarter under review to Rs 1,450.76 crore as compared to Rs 1093.2 crore a year ago. 

 

The Earnings before interest, tax, depreciation, and amortisation (Ebitda) for the second quarter stood at Rs 533 crore as compared to Rs 236 crore a year ago which implies a decline of 126 per cent. 

 

The Ebitda margins of the company for the quarter under review stood at 36.7 per cent as compared to 21.6 per cent.

 

The Shipping Corporation of India is a government-owned public sector enterprise in India. It plays a key role in the nation's maritime industry. 

 

The company is involved in various aspects of the shipping business, including cargo transportation, passenger services, and the management of a large fleet of vessels.

 

It supports global trade by transporting goods such as crude oil, coal, and containers across international routes. SCI also operates passenger ferry services and offers ship management, technical services, and maritime training. It is a Navratna company. The company's headquarter is in Mumbai and was founded in 1961. 

 

The company also handles a significant portion of India's cargo requirements, especially in international shipping. The company serves major global trade routes and is an integral part of India’s economic linkages with the rest of the world.

 

In the past one year, Shipping Corporation of India shares have gained 59.8 per cent against Sensex's rise of 22 per cent.