New Delhi: The country's largest shipping liner Shipping Corporation of India (SCI) on Friday posted a 118.53 percent increase in consolidated net profit to Rs 404.60 crore in the March quarter.

It had reported a net profit of Rs 185.14 crore for the January-March period of the preceding fiscal year, the company said in an exchange filing.

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The state-owned company's total income rose to Rs 1,659.75 crore from Rs 1,400.55 crore in the year-ago quarter, while expenses declined to Rs 1,235.51 crore from Rs 1,242 crore.

The board of directors of the company has declared a final dividend of Re 1 per share, subject to approval of members at the ensuing annual general meeting. The outgo on this account will be about Rs 46.58 crore.

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