State-owned Shipping Corporation of India Ltd (SCI) on Friday (February 7) reported a 43.8% year-on-year (YoY) decline in net profit at ₹75.5 crore for the third quarter that ended December 31, 2024.

In the corresponding quarter of the previous fiscal, the Shipping Corporation of India posted a net profit of ₹134.4 crore, the company said in a regulatory filing. The company’s revenue from operations fell by 1.9% to ₹1,315.6 crore as against ₹1,340.7 crore in the corresponding period of the preceding fiscal.

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At the operating level, EBITDA dropped 14.3% to ₹357.3 crore in the third quarter of this fiscal over ₹416.9 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 27.2% in the reporting quarter as compared to 31.1% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Under the Ministry of Ports, Shipping and Waterways, SCI is the largest shipping company in India. The results came after the close of the market hours. Shares of Shipping Corporation of India Ltd ended at ₹192.30, down by ₹2.55 or 1.31% on the BSE.

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