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Infrastructure Today Magazine | Shipping Corp Q4 profit jumps to Rs.102 cr

Shipping Corp Q4 profit jumps to Rs.102 cr

Transport Update  /  Jun 01, 2015

Shipping Corporation of India (SCI) has reported more than seven-fold jump in net profit at Rs 101.49 crore for the quarter on gains from sale of ships. For year 2014-15, SCI recorded a net profit of Rs 200.93 crore. The total income from operations during last fiscal stood at Rs 4,310.97 crore. ¨The depreciation on these assets, earlier being provided under the ¨written down value¨ method, is now being provided for as per ¨straight line method¨ over the useful life of assets. Thereby, the depreciation for the quarter is lower by Rs 1,415 lakh and profit is higher by Rs 1,415 lakh,¨ the SCI has said.

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Agree. Developing a domestic transshipment port is a good idea if we talk about seaports, there are several countries and commercial centers around the world that don’t have a seaport and these countries have to use the seaports of other countries in order to import or export their cargo, which will give a competitive advantage.
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