Bangalore: Shipping Corp. of India Ltd. (SCI), India’s biggest ocean carrier, posted a net loss of Rs114.31 crore for the year to March, its second successive loss as the shipping market grapples with a prolonged downturn.

The state-run firm had registered a net loss of Rs428.21 crore in the year to March 2012.

Income was nearly flat at Rs4,360.60 crore compared with Rs4308.61 crore a year earlier, it said in a filing to BSE on Tuesday.

The bulk carrier and tanker division, the company’s main revenue earner, reported an operating loss of Rs367.74 crore compared with an operating profit of Rs67.89 crore a year ago.

Shipping Corp.’s liner and passenger services division reduced its operational loss significantly to Rs31.57 crore from Rs311.66 crore a year earlier.

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