Shipping Corporation of India Ltd's Q3FY25 Quarter Results
- 08 Feb 2025
Result Summary
- Shipping Corporation of India Ltd reported a 9.5% quarter-on-quarter (QoQ) decrease in its consolidated revenues for the quarter-ended Dec (Q3FY25). On a year-on-year (YoY) basis, it witnessed a decline of 0.9%.
- Its expenses for the quarter were up by 6.9% QoQ and 5.2% YoY.
- The net profit decreased 74.1% QoQ and decreased 43.8% YoY.
- The earnings per share (EPS) of Shipping Corporation of India Ltd stood at 1.6 during Q3FY25.
Financial Statments for Q3FY25
| (₹ crores) | Q3FY25 | Q2FY25 | Q3FY24 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total Income | 1350.13 | 1491.23 | 1363.02 | -9.5% | -0.9% |
Total Expenses | 1277.31 | 1195.11 | 1214.56 | 6.9% | 5.2% |
Profit Before Tax | 72.82 | 296.12 | 148.46 | -75.4% | -50.9% |
Tax | 8.21 | 6.98 | 16.64 | 17.6% | -50.7% |
Profit After Tax | 75.52 | 291.44 | 134.35 | -74.1% | -43.8% |
Earnings Per Share | 1.60 | 6.30 | 2.90 | -74.6% | -44.8% |
Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
Company Overview
Shipping Corporation of India Ltd (SCI) is a prominent player in the maritime industry, primarily involved in providing shipping services in India. The company operates in various segments including tanker, bulk carrier, offshore, and liner services. SCI is known for its extensive fleet that caters to both international and domestic transportation needs. As a state-owned enterprise, it is a crucial component of India’s maritime infrastructure, contributing significantly to the country's trade and commerce. Recent developments concerning SCI may include fleet modernization and strategic partnerships to enhance its service offerings, although specific details about such initiatives are not available within the scope of this report.
Revenue
For the third quarter of the fiscal year 2025 (Q3FY25), Shipping Corporation of India Ltd reported a total income of ₹1350.13 crores. This reflects a quarter-over-quarter (QoQ) decrease of 9.5% from ₹1491.23 crores in Q2FY25. Compared to the same quarter in the previous year (Q3FY24), when total income was ₹1363.02 crores, there is a year-over-year (YoY) decline of 0.9%. The decline in total income on both a QoQ and YoY basis indicates a contraction in revenue streams for the period under review. Such revenue reductions are significant for analyzing the company's financial health over the specified periods.
Profitability
During Q3FY25, the company recorded a profit before tax of ₹72.82 crores, marking a substantial QoQ decrease of 75.4% from ₹296.12 crores in Q2FY25. On a YoY basis, this represents a 50.9% decline from ₹148.46 crores in Q3FY24. The tax expense for the quarter was ₹8.21 crores, which is 17.6% higher than ₹6.98 crores reported in Q2FY25, but 50.7% lower compared to ₹16.64 crores in Q3FY24. Consequently, the profit after tax stood at ₹75.52 crores, a 74.1% decrease QoQ and a 43.8% decrease YoY. Earnings per share (EPS) for Q3FY25 were ₹1.60, down from ₹6.30 in Q2FY25 and ₹2.90 in Q3FY24, resulting in declines of 74.6% QoQ and 44.8% YoY.
Operating Metrics
The total expenses for Q3FY25 amounted to ₹1277.31 crores, which signifies a 6.9% increase QoQ from ₹1195.11 crores in Q2FY25 and a 5.2% increase YoY from ₹1214.56 crores in Q3FY24. This rise in expenses could be attributed to various operational factors such as increased fuel costs, maintenance, and other operational outlays. The noticeable increase in expenses despite declining income impacts the bottom line significantly. Such trends in operating expenses are vital for understanding the operational efficiency and cost management strategies of the company during the quarter.
