Shipping Corp.'s net profit surged 22% during the quarter ended June for the current financial year.
The company's bottom line rose to Rs 354.17 crore during the April-June period, compared to Rs 291.48 crore for the same period last year, according to an exchange filing on Friday.
Shipping Corp Q1 Highlights (Consolidated, YoY)
Revenue down 13.1% to Rs 1,316.04 crore versus Rs 1,514.27 crore.
Net profit up 22% to Rs 354.17 crore versus Rs 291.48 crore.
Ebitda down 4% to Rs 488.99 crore versus Rs 509.65 crore.
Margin expands to 37.2% versus 33.7%.
Shares of Shipping Corp closed 2.69% lower at Rs 201.61 apiece on the NSE, compared to a 0.95% fall in the benchmark Nifty. The stock has fallen 21.89% in the last 12 months and 3.5% on a year-to-date basis.
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