SCI soars 3% despite quarterly loss

The scrip finally settled at Rs 131, up 2.6%. The counter witnessed trades of 288,640 shares as compared to the two-week daily average traded volumes of 535,410 shares.
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Updated at 1328 Hrs:

Shipping Corporation of India (SCI) has gained 2% in spite of a dip in net profit.

The stock opened in the red at Rs 125. It surged almost 4% to a high of Rs 132 and is now up 2% at Rs 130. Around 194,492 shares have been traded on the BSE so far.

The company announced it's Q4 results yesterday. The net profit has decreased 19% to Rs 200.76 crore in the quarter ended March 31,2009 fom Rs 248.69 crore in the corresponding quarter a year ago.

 

The total income has decreased 6% to Rs 1,099.59 crore in Q4FY09 fom Rs 1,177.44 crore in Q4FY08.