SCI’s total revenue increased from Rs 876.87 in the year-ago quarter to Rs 1,229.66 during the quarter. Total expenses also increased from 743.49 rupees in the same period of the previous year to 996.82 rupees.
According to the company, the impact of the second wave of COVID-19 continued in the second quarter of 2021-22.
“The pandemic impact on oil demand and its associated market dynamics has had a negative impact on tanker market profits,” he said.
However, the company said the liner fare index witnessed a significant improvement in charter fares, adding that even if travel restrictions were relaxed, crew replacement would remain a difficult aspect.
SCI is India’s largest shipping company and the only Indian company engaged in the transportation of LNG.
Shipping Corp Q2 Results: Shipping Corp Q2 Results: Net Income Up 71% 243 Kroner
https://economictimes.indiatimes.com/markets/stocks/earnings/shipping-corp-q2-results-net-profit-soars-71-to-rs-243-cr/articleshow/87473992.cms Shipping Corp Q2 Results: Shipping Corp Q2 Results: Net Income Up 71% 243 Kroner