Shipping Corporation Declares Dividend Amid Profit Decline
The Shipping Corporation of India (SCI) announced a dividend of Rs 3 per share for the fiscal year 2026, with November 19 set as the record date. This declaration comes alongside the company’s financial results for the September quarter, revealing a significant drop in profits. SCI reported a consolidated profit of Rs 189 crore, marking a 35% decrease from Rs 291 crore in the same period last year, and a 47% decline from the previous quarter.
Financial Performance Overview
In its latest earnings report, SCI disclosed that its revenue from operations reached Rs 1,339 crore, reflecting an 8% decline compared to Rs 1,451 crore in the corresponding quarter of the previous financial year. However, there was a slight improvement on a quarter-on-quarter basis, with revenue increasing by 1.7% from Rs 1,316 crore in the April-June quarter of FY26. The company’s total expenses also rose to Rs 1,235 crore, up from Rs 1,107 crore in the previous quarter and Rs 1,195 crore in the same quarter last year. These expenses were attributed to various factors, including costs related to services rendered, employee benefits, and finance costs.
Shipping stocks Navigating the difficult waters – Stock Insights News
Breaking down the revenue by segment, SCI’s Liner division reported earnings of Rs 213 crore in Q2FY26, an increase from Rs 201 crore in Q1FY26 but a decrease from Rs 298 crore in Q2FY25. The Bulk Carrier segment saw revenue rise to Rs 201 crore, up from Rs 133 crore in the previous quarter but down from Rs 214 crore year-on-year. The Tanker segment generated Rs 858 crore, a decline from Rs 913 crore in Q1FY26 and Rs 885 crore in Q2FY25. Meanwhile, the Technical & Offshore segment reported revenue of Rs 74 crore, slightly up from Rs 72 crore in Q1FY26 and Rs 70 crore in Q2FY25.
Despite the challenges reflected in its financial results, SCI’s shares closed up by 2.1% at Rs 265.95 on the National Stock Exchange (NSE). Over the past six months, the public sector undertaking has shown impressive performance, delivering returns of 57%, significantly outperforming the Nifty and BSE Sensex, which recorded returns of over 4% and 3%, respectively.
