State-run Shipping Corporation of India (SCI) on Friday reported a 57.1 percent year-on-year (YoY) jump in net profit at Rs 171.6 crore for the first quarter that ended June 30, 2023.

In the corresponding quarter last year, the Shipping Corporation of India posted a net profit of Rs 109.2 crore, the company said in a regulatory filing.

In the quarter, total revenue stood at Rs 1,200 crore during the period under review, falling 17.9 percent against Rs 1,462.2 crore in the corresponding period of the preceding fiscal.

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At the operating level, EBITDA increased 21.3 percent to Rs 363.8 crore in the first quarter of this fiscal over Rs 299 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 30.2 percent in the reporting quarter as compared to 20.5 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Mumbai-headquartered SCI's owned fleet includes bulk carriers, crude oil tankers, product tankers, container vessels, passenger-cum-cargo vessels, LPG, and offshore supply vessels.

The results came after the close of the market hours. Shares of Shipping Corporation of India ended at Rs 102.85, up by Rs 0.75, or 0.73 percent on the BSE.