SCI Q1 profit rises three times

The shipping corporation of India(SCI) one of the largest Indian shipping Company, declared its financial results for Q1 ending 30th June 2015 noted a net profit of Rs 163.54 crores as compared to a net profit of 49 crore registered in Q1 ended 30th June 2014.

The company had marked a net profit of Rs. 101.49 crore during the quarter ending march 2015.

In previous financial year ending March 2015,SCI had registered a net profit of Rs.200.93 crores.

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.