SHIPPING COPRORATION OF INDIA

SCI as it is recognized posted a fantastic set of numbers for Q4FY15 and this was on the back of major reduction in costs, higher income from profit on sale of vessel. So despite a 15% (YoY) drop in net sales at Rs.1028 crore, net profit was up almost 8 times at Rs.101 crore.

This feat was achieved on account of profit from sale of ships during the quarter at Rs.35 and total expenditure coming down 24%. Interest income was up 27% and interest outgo dropped 24%. It ended FY15, with a turnaround- from loss of Rs.275 crore in FY14, it posted a net profit of Rs.201 crore.

It has three segments – liner, bulk and Technical & offshore. Liner includes breakbulk, container transport, passenger vessels and this segment showed a 29% drop in toline but EBIT at Rs.36 crore was a turnaround from loss of Rs.7 crore. Bulk segment comprised tankers for both crude as well as products, dry bulk, gas carriers and LNG vehicles and this segment too reported a very smart turnaround with a EBIT of Rs.96 crore. Technical and offshore segment is technical consultations and offshore vessels was the only segment which did not do well – topline is down 15% and EBIT slipped 51%.