Shipping Corporation of
India (SCI) is not in a financial crisis though its profitability has been
impacted in the current financial year. Brief financials of SCI are as under:
(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, Shri G.K. Vasan
in the Rajya Sabha today in a
written reply to a question.
MG/AS – PQ1 – usq 2592