Profit before tax in Q3 FY24 was at Rs 150.99 crore, down 46.54% from Rs 282.44 crore recorded in the corresponding quarter previous year.

Total expenses fell 3.59% year on year (YoY) to Rs 1,214.56 crore for the third quarter of FY24.

Cost of services rendered was at Rs 769.95 crore (down 11.29% YoY) and employee benefit expenses stood at Rs 134.67 crore (up 22.58% YoY) during the quarter under review.

The Shipping Corporation of India (SCIL) is a national carrier, with the Government of India (GoI) holding 63.75% of the equity as on 30 September 2022. SCIL is the largest Indian shipping company in terms of capacity with a diversified fleet profile. The company is diversified in terms of its business segments, namely, crude oil/product tankers, dry bulk, offshore services, and container operations. The company also has a presence in passenger vessels, chemicals and gas transportation.