Shipping Corp Q1 Results: Revenue Declines Despite Rise In Profit

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.

• 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.