This PSU company has reported robust return in net profit, do you own it?

Share price jumps over 6 per cent after strong Q4 numbers.

On Tuesday, Shipping Corporation of India Ltd reported a rise of 184 per cent in net profit to Rs 359.68 crore for Q4FY23 as compared to Rs 126.59 crore for the same quarter last year. The net sales rose by up 8.3 per cent at Rs 1,418.14 crore for the quarter under review as compared to Rs 1,309 crore.

The company’s total income rose by 7 per cent to Rs 1,452.21 crore during the quarter under review from Rs 1,355.47 crore in the year-ago period.  

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The Shipping Corporation of India (SCI) is a Public Sector Undertaking that operates and manages vessels servicing both national and international lines. It is under the ownership of the Ministry of Ports, Shipping and Waterways, Government of India, with its headquarters in Mumbai. 

Today, the share of Shipping Corporation of India Ltd opened at Rs 99.90 and has touched a high and low of Rs 102.83 and Rs 97.75, respectively. So far 6,92,603 shares have been traded on the bourses.         

At the time of writing, the shares of Shipping Corporation of India Ltd were trading at Rs 100.75, a decrease of 6.58 per cent from the previous day’s closing price of Rs 94.53 on BSE. The stock has a 52-week high and low of Rs 151.30 and Rs 79.50, respectively on BSE.       

The company is currently trading at a PE of 5.93 times against the industry PE of 5.21 times. In FY23, the company delivered an ROE and ROCE of 11 per cent and 8.79 per cent, respectively.