BackShipping Corp falls 5% post poor Q1 results
Shares of Shipping Corporation of India of India fell on Friday after the company reported a 72.6% decline in the June quarter net profit at `55.9 crore
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Mumbai: Shares of Shipping Corporation of India Ltd fell nearly 5% on Friday after the company reported a 72.6% decline in the June quarter net profit at ₹ 55.9 crore. The stock slumped 4.92% to end the day at ₹ 70.60 on BSE.
The scrip tumbled 9.15% during the day on BSE.
On NSE, it came down 4.57% to settle at ₹ 70.90. On the volume front, 4.74 lakh shares changed hands on BSE and over 22 lakh on NSE.
The company had posted a net profit of ₹ 203.8 crore for the quarter ended June 2015. Total income fell to ₹ 875.9 crore for the said quarter, from ₹ 1,118.22 crore in the year-ago period, the company said in a BSE filing on Thursday.
Shipping Corporation of India was established on 2 October 1961 through amalgamation of Eastern Shipping Corporation and Western Shipping Corporation.
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