Shipping Corp Of India's Net Profit Rises 343% To Rs 291 Cr In Q2
The revenue from operation also marked a 32.7 per cent year-on-year (YoY) increase for the quarter under review to Rs 1,450.76 crore
Marking a significant improvement in performance over the last year, the Shipping Corporation of India has reported a 343 per cent year-on-year (YoY) increase in its consolidated net profit in the second quarter of the current financial year (Q2FY25). As per the financial results, its net profit surged to Rs 291.44 crore in Q2FY25 from Rs 65.73 crore in the same quarter a year ago.
The revenue from operation also marked a 32.7 per cent YoY increase for the quarter under review and increased to Rs 1,450.76 crore in Q2FY25 from Rs 1,093.2 crore in the corresponding quarter of the previous financial year. The total income of the corporation surged to Rs 1,491.23 crore in the recently concluded quarter as compared to Rs 1,161.89 crore in Q2FY24.
The total expenses increased from Rs 1,113.49 crore in Q2FY24 to Rs 1,195.11 crore in Q2FY25. The earnings before interest, tax, depreciation and amortisation (EBITDA) of the corporation for the second quarter stood at Rs 533 crore as compared to Rs 236 crore during the same period last year. The EBITDA margin for the quarter under review was 36.7 per cent as compared to 21.6 per cent.
As far as the financial performance for the first-half of the current fiscal (H1FY25 is concerned, its consolidated net profit increased from Rs 237.34 crore in H1FY24 to Rs 582.92 crore in H1FY25, marking a 145.60 per cent YoY growth. The revenue from operations during H1FY25 was Rs 2,965.03 crore as against Rs 2,293.31 crore during the same period a year ago.
The total income surged from Rs 2,388.96 crore in H1FY24 to Rs 3,049.67 crore during the current fiscal’s first half. The total expenses, on the other hand, too, marked an increase to Rs 2,459.83 crore in H1Y25 from Rs 2,183.46 crore in the corresponding period of the previous financial year.
