Shipping Corporation of India profit triples to ₹578 crore as tankers lead earnings

Shipping Corporation of India (SCI) reported consolidated net profit of ₹577.76 crore for the quarter ended 30 September 2026, more than three times the ₹189.16 crore it earned a year earlier. Revenue from operations rose 71.1% to ₹2,290.73 crore. The board approved the unaudited results on 4 November and declared an interim dividend of ₹4 per share.

Tankers were the largest contributor to SCI’s standalone business, accounting for about 69% of quarterly operating revenue. The group’s year-on-year earnings growth came despite losses at its shipping ventures. Its share of losses from associates and joint ventures was ₹67.58 crore, compared with a profit contribution of ₹13.38 crore a year earlier.

How did tanker and liner operations perform?

On a standalone basis, SCI’s tanker division recorded revenue of ₹1,582.15 crore and a segment profit of ₹741.40 crore in the July–September quarter. The liner division, its next-largest contributor, earned ₹368.96 crore in revenue and ₹124.47 crore in segment profit. Together, the two businesses generated about 85% of the parent company’s ₹2,289.59 crore in operating revenue. Standalone net profit was ₹646.04 crore.

The accounts also show the impact of disruption to liquefied natural gas (LNG) shipping. SCI recognised a ₹240.19 crore provision against a loan to its joint venture, India LNG Transport Company (No. 3) Ltd. The amount included ₹11.36 crore of interest receivable. SCI cited the effect of geopolitical developments on the venture’s operations.

The joint venture owns Aseem, a carrier with capacity for approximately 155,000 cubic metres of LNG. It is one of three vessels chartered to Petronet LNG to transport gas from Qatar to India. Petronet disclosed that operations of the three ships had remained suspended since 2 March, apart from about seven days in June when one vessel was deployed.

How did earnings compare with the June quarter?

The group earned an additional ₹388.60 crore in net profit compared with the September 2025 quarter. Operating earnings before interest, tax, depreciation and amortisation rose from ₹406.47 crore to ₹902.14 crore. On that basis, the operating margin widened from 30.4% to 39.4%, while basic earnings per share rose from ₹4.06 to ₹12.40.

The comparison with the preceding quarter was more mixed. Operating revenue rose 24.1% from ₹1,846.56 crore in April–June, but operating earnings grew only 2.2%, bringing the margin down from 47.8%. Other income also fell, and the group’s share of losses from associates and joint ventures widened from ₹45.04 crore. Consolidated net profit consequently fell 6.7% from the June quarter’s ₹619.34 crore.

For the first six months of 2026–27, SCI reported consolidated operating revenue of ₹4,137.29 crore and net profit of ₹1,197.10 crore. The September quarter accounted for about 55% of first-half operating revenue and 48% of net profit.

When will SCI pay the interim dividend?

SCI fixed 16 November 2026 as the record date for its first interim dividend of the financial year. Eligible shareholders will receive ₹4 for each equity share with a face value of ₹10. The company said it would make the payment within 30 days of the 4 November declaration.