Shipping Corp Q3 Profit Drops 44% YoY, Revenue Slips 2%

9 Feb 2025 , 04:18 PM

Shipping Corporation of India Ltd (SCI) reported a 43.8% drop in net profit, earning ₹75.5 crore in the December 2024 quarter, compared to ₹134.4 crore in the same period last year.

Shipping Corporation of India Ltd (SCI) revenue slipped by 1.9% YoY, coming in at ₹1,315.6 crore, slightly lower than ₹1,340.7 crore recorded in the previous year’s quarter. EBITDA fell by 14.3% YoY to ₹357.3 crore, down from ₹416.9 crore, indicating pressure on profitability. EBITDA margin declined to 27.2%, compared to 31.1% last year, reflecting increased costs and operational challenges.

Despite the dip in profits, SCI continues to hold its position as India’s largest shipping company, operating under the Ministry of Ports, Shipping, and Waterways. The company released its financial results after market hours on February 7, 2025.