Shipping Corporation profit doubles to Rs 60 crore

Shipping Corporation profit doubles to Rs 60 crore

Shipping Corporation of India’s net profit almost doubled to Rs 59.66 crore in the October-December quarter of 2015-16, mainly boosted by change in method for calculation of depreciation. It had posted a net profit of Rs 31.35 crore in the October-December quarter of the previous fiscal. Total income from operations during the third quarter of the current fiscal declined to Rs 987.04 crore as against Rs 1,052.35 crore in the year-ago period, the largest domestic shipliner said in a regulatory filing to the BSE.

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