SCIShipping Corporation Of India Ltd.
Shipping Corporation Of India Q2 FY27 Results: Consolidated Net Profit ₹578 Crore on Total Income of ₹2,371 Crore
- Earnings
- shipping
Reviewed byRachit TripathiBlacklitt Research
Shipping Corporation Of India (NSE: SCI) reported consolidated total income of ₹2,371 crore and net profit of ₹578 crore for the quarter ended 30 Sep 2026, it said in a filing on 04 Nov 2026. The standalone profit before tax for the quarter was ₹655 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹2,371 crore, up 65.1% YoY and 21.2% QoQ
- Net profit and EPS: ₹578 crore, up 205.4% YoY and down 6.7% QoQ; basic EPS ₹12.40
- Finance costs: ₹48 crore, 2.0% of total income
- Other expenses provision: ₹240.19 crore against the ILT-3 loan, including ₹11.36 crore interest receivable
Standalone
The company on its own, without its subsidiaries
- Profit before tax: ₹655 crore, up 226.5% YoY and down 2.7% QoQ
- EPS: Basic EPS ₹13.87 against ₹3.78 a year earlier
- Interim dividend: ₹4.00 per share, 40% of face value of ₹10, record date 16 Nov 2026
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 2,371 | 1,436 | +65.1% | 1,957 | +21.2% | |
| Revenue from operations | 2,291 | 1,339 | +71.1% | 1,847 | +24.1% |
| Other income | 80 | 97 | -17.5% | 110 | -27.2% |
| 578 | 189 | +205.4% | 619 | -6.7% | |
| Profit before tax | 587 | 214 | +174.3% | 628 | -6.6% |
| Finance costs | 48 | 47 | +1.4% | 37 | +28.5% |
| Depreciation | 280 | 256 | +9.4% | 282 | -0.8% |
| Tax expense | 9 | 25 | -62.4% | 9 | +4.1% |
| Net profit margin | 24.37% | 13.17% | +11.20 pp | 31.65% | -7.28 pp |
| EPS, basic (₹) | 12.40 | 4.06 | +205.4% | 13.30 | -6.8% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Profit grew much faster than income on a year-earlier basis. Consolidated net profit of ₹578 crore was up 205.4% from ₹189 crore, while total income rose 65.1%. Revenue from operations, at ₹2,291 crore, was up 71.1%, and other income fell 17.5% to ₹80 crore.
Other income of ₹80.27 crore is 13.7% of profit before tax of ₹587.10 crore, and tax of ₹9.34 crore is 1.6% of that profit. Finance costs of ₹48.05 crore are 2.0% of total income, close to the year-earlier level.
Compared with the previous quarter the picture is different: net profit fell 6.7% while total income rose 21.2%. The notes say other expenses include a provision of ₹240.19 crore against the loan to joint venture India LNG Transport Company (No.3) Ltd. (ILT-3), which the company links to geopolitical developments and their impact on ILT-3's operations. The notes do not give the reason for the rest of the rise in other expenses.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 655 | 201 | +226.5% | 673 | -2.7% | |
| Finance costs | 48 | 47 | +1.4% | 37 | +28.5% |
| Depreciation | 280 | 256 | +9.4% | 282 | -0.8% |
| EPS, basic (₹) | 13.87 | 3.78 | +266.9% | 14.26 | -2.7% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The standalone table carries profit before tax of ₹655 crore, against ₹201 crore a year earlier and ₹673 crore in the previous quarter. Basic EPS was ₹13.87, against ₹3.78 a year earlier. Finance costs of ₹48.03 crore and depreciation of ₹279.62 crore are close to the consolidated figures.
The Shipping Corporation Of India is in the logistics sector, with a market value of ₹12,487 crore at the 04 Nov 2026 close. Its consolidated results for the previous quarter, Q1 FY27, showed total income of ₹1,957 crore and net profit of ₹619 crore.
The company says the appointment of the requisite Directors is expected shortly. A Woman Independent Director was appointed with effect from 19.08.2026, while the Audit Committee and Nomination and Remuneration Committee remained non-compliant during the quarter. The strategic disinvestment is being handled by DIPAM with a Transaction Advisor; the filing gives no timetable for it.
Inference
The board declared an interim dividend of ₹4.00 per share for FY 2026-27, with a record date of 16 Nov 2026; the consolidated notes put the outgo at about ₹186.32 crore. The filing does not say how the dividend will be funded beyond this amount.
The filing does not say whether further provisions will follow the ILT-3 provision, or what the expected effect of ILT-3's operations on future results will be.
Filed with BSE on . Reference: Original filing (PDF)
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