SENSEX   31795.46    24.57  (0.08%)       |  NIFTY   9904.15    6.85  (0.07%)  |  Gold   29127.00    175.00  (0.60%)    |  Silver  39077.00   214.00 (0.55%)

Latest News:

Shipping Corporation slumps after Q1 net plunges 73%

By
Shipping Corporation, Financial results

Mumbai:Shipping Corporation shares fell over 9 per cent to an intraday low of Rs 67.55 on Friday after the state-run shipping company reported 73 per cent decline in its net profit for the April-June quarter.

The Mumbai-based company reported a net profit Rs 56 crore on sales of Rs 840 crore in Q1, compared to a net profit of Rs 204 crore on revenue of Rs 1,085 crore in the corresponding quarter of last fiscal.

It net profit slumped despite a Rs 13 crore boost due to provision write-backs during the quarter.

As of 12.52 p.m., Shipping Corporation shares traded 5.32 per cent lower at Rs 70.35 compared to 0.15 per cent fall in the broader Sensex.

Comments (0)

No comments yet.


Leave a comment

(required)

No trackbacks yet.

??????