The Shipping Corporation of India (SCI) declared its unaudited financial results for the quarter ended 30th June 2015 posting a net profit of Rs. 163.54 crores as against a net profit of Rs. 49.50 crores during the quarter ended 30th June 2014 and a net profit of Rs. 101.49 during the quarter ended March 2015.
SCI had registered a net profit of Rs. 200.93 crores for the year ended 31st March 2015. The quantum leap in profits during the quarter has been attributed to the rally in tanker markets aided by the continued slide in world crude oil prices.
SCI currently owns 69 vessels corresponding to 5.89 million dead weight tonnes and 3.29 million gross tonnes which include thirty five tankers.