Q4FY23 results: Shipping Corporation's PAT increases by meagre 1.26% on y-o-y basis

New Delhi: State-owned Shipping Corporation of India Limited said in a regulatory filing that it has declared its standalone financial results for the quarter that ended on March 31. The filing noted that the net profit after tax of the company has increased from Rs 79,011 lakhs in FY22 to Rs 80,012 lakhs in FY23, registering an increase of 1.26 percent. On q-o-q basis, the PAT increased from Rs 24,582 lakhs to Rs 35,983 lakhs, registering an increase of 46.32 percent.

The revenue from operations of the company for FY22 was Rs 498,803 lakhs which increased to Rs 579,395 lakhs in FY23, registering a growth of 16.15 percent. However, it decreased from Rs 149,623 lakhs in Q3FY23 to Rs 141,814 Lakhs in Q4FY23, registering a decline of 5.2 percent. Total expenses of the company increased from Rs 425,223 Lakhs in FY22 to Rs 517,367 lakhs in FY23. On q-o-q basis, the total expenses declined from Rs 125,949 lakhs to Rs 119,865 lakhs.

The filing also noted that "the Board has recommended a dividend of Rs 0.44 per equity share of the face value of Rs 10 each i.e., 4.4 percent per share, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company. The said dividend if declared would be paid within 30 days from the date of its declaration at the AGM."

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