Shipping Corporation stock zooms 10% on stellar Q1 earnings; up 170% in a year

About this update from Shipping Corporation Of India Land And Assets Limited

Shares of Shipping Corporation zoomed over 10 percent as investors cheered the company's stellar first quarter earnings. The state-run company reported a 70 percent year-on-year jump in net profit at Rs 291.5 crore and 26 percent jump in revenue from operations to Rs 1,514.3 crore in Q1FY25.At the operating level, Shipping Corp's earnings before interest, tax, depreciation, and amortisation (EBITDA) jumped 40.4 percent YoY to Rs 509.7 crore in the April-June quarter, and EBITDA margin stood at 33.7 percent in the reporting quarter versus 30.3 percent in the first quarter of FY24.At 9:54 am Shipping Corporation shares were trading 10 percent lower at Rs 283.1 apiece on the National Stock Exchange (NSE). So far this year, the stock has gained around 72 percent, outperforming benchmark Nifty's returns of around 12 percent.Follow our market blog to catch all the live actionIn the 12 months gone by, the PSU stock has delivered stellar returns of around 170 percent, more than doubling investors' money. In comparison, Nifty rose 25 percent during this period.Shipping Corporation is a public sector undertaking (PSU) owned by the Government of India (GoI). It's India's largest and most diversified shipping company, operating and managing vessels for national and international lines.The Ministry of Ports, Shipping and Waterways administers Shipping Corp, headquartered in Mumbai.Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

View stock analysis, news, and events for Shipping Corporation Of India Land And Assets Limited