Shipping Corporation Q4 net profit down 41.81% at Rs 66.19 cr
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The company reported standalone net profit of Rs 66.19 crore for the quarter ended March 31, 2021 as compared to Rs 113.75 crore in the same period last year, registering a year-on-year decline of 41.81 per cent. Net revenue of the company declined substantially by 33.37 per cent at Rs 875.35 crore in January-March quarter of this fiscal as against Rs 1,313.82 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 35.46 per cent to Rs 651.87 crore from Rs 1,009.97 crore in year ago period. Other Income dipped by 67.53 per cent at Rs 25.34 crore versus (Mar'20 Rs 78.03 crore).
Operating Profit slipped by 26.45 per cent to Rs 223.48 crore as against Rs 303.85 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 10.38 per cent in March quarter. Interest declined by 70.40 per cent y-o-y to Rs 32.65 crore, while Taxation decreased by 39.42 per cent at Rs -3.78 crore (Mar'20 Rs -6.24 crore).
