Bangalore: State-run Shipping Corporation of India Ltd (SCI) posted a net profit of 49.50 crore in the quarter ended 30 June. It had posted a loss of 98.70 crore a year earlier.

The Mumbai-based company’s first quarter revenue rose to 1,091.29 crore from 976.13 crore a year ago, the company said in a statement to the Bombay Stock Exchange.

On a sequential basis, this is the second straight quarter where the firm has reported a profit. In the quarter ended March, SCI had reported a net profit of 13.24 crore. However, for the full year, the firm reported a loss of 274.66 crore.

The company’s liner and bulk carrier and tanker units continued to report operating losses during the April to June quarter— 7.65 crore and 31.19 crore, respectively. However, the unit that runs ships used to support the offshore oil exploration industry reported an operating profit of 23.45 crore.

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