Quarterly Result: Shipping Corporation of India Ltd
Bhagyashree Vivarekar / 16 Nov 2016
Shipping Corporation of India Ltd., is currently trading at Rs. 63.6, up by 1.4 points or 2.25% from its earlier closing of Rs. 62.2 on the BSE. Net loss of Rs 20 cr has been posted as against a net profit of Rs 162 cr during the same quarter of last year, partially attributed to 34% yoy dip in other income.
Technical View:
Shipping Corporation of India Ltd., is currently trading at Rs. 63.6, up by 1.4 points or 2.25% from its earlier closing of Rs. 62.2 on the BSE.
The scrip touched a high and low of Rs. 65.45 and Rs. 62.4 respectively, after opening at 65.45. Altogether 260628(NSE+BSE) shares have been traded on the counter; and the stock is currently trading above its 200 DMA.
Standalone Results Q2FY17:
Shipping Corporation of India Ltd., has posted its Q2FY17 standalone numbers. Net revenue has seen a drop of 30.5% yoy to Rs 759 cr, triggered by 28.8% and 23.7% yoy fall in revenues from Tanker and Liner segments respectively.
SCI's EBITDA for the period too has dropped 56.7% yoy to Rs 133 cr, driven by EBITDA margins shrinking by 1062 bps to 17.5%.
Net loss of Rs 20 cr has been posted as against a net profit of Rs 162 cr during the same quarter of last year, partially attributed to 34% yoy dip in other income.
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