MUMBAI: The Shipping Corporation of India Limited (SCI) declared its audited financial results for the quarter and year ended 31st March 2017. SCI posted a net profit of Rs. 92.36 crores for quarter ended 31st March 2017 as against a net profit of Rs. 7.25 crores reported for the quarter ended 31st December 2016. With this, SCI has reported a net profit of Rs. 135.52 crores excluding Other Comprehensive Income for the financial year 2016-17 as against Ind-AS adjusted net profit figure of Rs. 753.28 crores for the year FY 2015-16. This is the first time that the company has published Ind-AS compliant financial result and statements.
SCI is India’s largest shipping company owning sixty nine (69) vessels of 3.33 million GT and 5.98 million DWT and accounts for 34% of the Indian tonnage in DWT terms. SCI also manages 53 vessels on behalf of various Government bodies, administrations & organisations.