Financial Condition of Shipping Corporation of India
Written by Vivek Avasthi Thursday, 15 December 2011 21:01
(Rs.in crores)
|
|
2009-10 |
2010-11 |
April-September 2011 |
|
Turnover |
3896.33 |
4019.77 |
2121.14 |
|
Net Worth |
6337.00 |
7168.13 |
7018.92 |
|
Net Profit After tax |
376.91 |
567.35 |
(-)140.63 |
|
Cash Balance |
2676.46 |
2466.74 |
1914.99 |
The shipping industry is in a recessionary phase and the freight rates are the lowest in all segments currently which has affected the financial performance of SCI in 2011-12.
SCI has sufficient cash reserves and the need for bailing out the company will not arise.
The above information was given by the Minister of Shipping, G.K. Vasan in the Rajya Sabha in a written reply to a question.
Source : PIB
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