New Delhi, Aug 4 (PTI) Shares of Shipping Corporation of India Ltd (SCI) on Wednesday dipped 3.5 per cent after the company reported a decline in consolidated net profit for the first quarter of the current financial year

The stock went lower by 3.56 per cent to close at Rs 108.50 on the BSE. During the day, it plunged 4.13 per cent to Rs 107.85.

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On the NSE, it dipped 3.42 per cent to close at Rs 108.50.

State-owned SCI on Tuesday reported a consolidated net profit of Rs 158.51 crore for the first quarter of the current fiscal.

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The company had clocked a consolidated net profit of Rs 336.87 crore in the corresponding period a year earlier, according to a regulatory filing.

Its total income declined to Rs 1,048.47 crore in the latest June quarter as against Rs 1,178.43 crore in the year-ago period.

Shipping Corporation said the impact of the second wave of the COVID-19 continued in the first quarter of 2021-22.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)