Shipping Corporation Q4 net profit at Rs.284.65 crores

Shipping Corporation of India Ltd has announced the Audited financial results for the quarter & year ended March 31, 2007. The results for the Quarter ended March 31, 2007 are as follows: The Company has posted a net profit after tax of Rs 2846.50 million for the quarter ended March 31, 2007 as compared to Rs 3501.30 million for the quarter ended March 31, 2006. Total Income has decreased from Rs 11597.70 million for the quarter ended March 31, 2006 to Rs 10805.60 million for the quarter ended March 31, 2007.

The results for the Year ended March 31, 2007 are as follows: The Company has posted a net profit after tax of Rs 10145.80 million for the year ended March 31, 2007 as compared to Rs 10422.00 million for the year ended March 31, 2006. Total Income has increased from Rs 37623.30 million for the year ended March 31, 2006 to Rs 42103.60 million for the year ended March 31, 2007.

The Board of Directors had declared an interim dividend of Rs 8.5 per share at the Board Meeting held on March 17, 2007. The interim dividend of 85% on paid up equity capital of the Company, i.e. Rs 8.5 per share amounted to Rs 23996 lakhs and payment of tax on this dividend was Rs 3365 lakhs. No further dividend has been recommended, and as such the interim dividend will be deemed as final dividend.

The stock was trading at Rs.191.90, down by Rs.8.95 or 4.46%. The stock hit an intraday high of Rs.204.95 and low of Rs.190.20. The total traded quantity was 168205 compared to 2 week average of 81107.

Source : Equity Bulls

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