Shipping Corporation of India Q1 profit jumps 75% to ₹620 crore as freight rates, operational performance lift earnings

Shipping Corporation of India (SCI) reported a strong set of earnings for the quarter ended June 30, with consolidated net profit rising nearly 75% year-on-year, driven by higher operating revenue and improved profitability across its shipping businesses.

The state-owned shipping company posted a consolidated net profit of ₹619.34 crore for the June quarter, compared with ₹354.17 crore in the year-ago period. Revenue from operations rose 40.3% to ₹1,846.56 crore from ₹1,316.04 crore a year earlier.

Operating EBITDA, calculated from the company's financial statements, increased 79.9% to ₹882.44 crore, while EBITDA margin expanded to 47.79% from 37.16% in the corresponding quarter last year.

Tanker business remains the key earnings driver

SCI's standalone segment results showed the tanker business continued to be the largest contributor to earnings during the quarter.

Revenue from the tanker segment rose to ₹1,295.46 crore, up from ₹913.28 crore a year ago, while segment profit before interest and tax climbed to ₹525.23 crore from ₹244.74 crore. The liner, bulk carrier and technical & offshore segments also reported improved performance during the quarter, with the bulk carrier and technical & offshore businesses returning to profitability.

At the standalone level, profit before tax increased to ₹673.20 crore from ₹355.31 crore a year ago, reflecting stronger operating performance amid favourable shipping market conditions.

Strategic disinvestment process continues

SCI said the government's strategic disinvestment process remains underway.

"The proposed strategic disinvestment of SCI is being handled by the Department of Investment and Public Asset Management (DIPAM) with the engagement of a Transaction Advisor," the company said in the notes to its financial statements. It added that the virtual data room remains open and the due diligence process by the transaction advisor is continuing.

The company also said its board approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, at its meeting held on August 6, while the statutory auditors issued an unmodified limited review report on the results.

Shares of Shipping Corporation of India ended Thursday's session 2.56% higher at ₹308.40 apiece on the NSE. The stock has surged more than 46% over the past year, significantly outperforming the benchmark Nifty 500 index, which has advanced about 5% during the same period.