The Shipping Corporation of India Ltd (SCI) has reported a net profit of Rs.7.25 crores for the financial quarter ended 31st December 2016 (Q3 FY16-17) as compared to a loss of Rs. 20 crores reported during the quarter ended 30th September 2016 (Q2 FY16-17). With this, SCIâ€™s net profit for the nine month period ended 31st December 2016 has increased to Rs. 43.16 crores.
Increase in the Operating Income of the company during Q3 FY16-2017 is mainly attributed to the increase in tanker freights. Increased revenue in the offshore and liner segments of SCI has further added to the profitability.