State-run Shipping Corporation of
India’s (SCI) standalone net loss widened to Rs76.18 crore for the quarter
ended 30 September 2017.
The Navratna company had posted a
net loss of Rs17.77 crore in the year-ago period. However, total income during
July-September rose to Rs824.86 crore, from Rs806 crore in the same quarter a
year ago. Its total expenses were also higher at Rs883.04 crore as against
Rs806.02 crore in the September quarter last fiscal.
As the country’s premier shipping
line, the SCI owns and operates around one-third of the Indian tonnage, and has
operating interests in practically all areas of the shipping business
servicing, both national and international trades. It has also contributed to
the growth of India’s EXIM trade and the national exchequer, by being a net
earner/saver of valuable foreign exchange. It is also the only shipping company
engaged in the transportation of LNG, a vital fuel for India’s power plant and