Are S C I latest results good or bad?

The Shipping Corporation of India (SCI) has reported its financial results for the quarter ending March 2025, which indicate several notable trends. The company's Profit Before Tax (PBT) has seen a decline of 45.4%, falling to Rs 95.98 crore compared to the average PBT of Rs 175.70 crore over the previous four quarters. Similarly, Profit After Tax (PAT) has decreased by 23.3%, now at Rs 185.14 crore, down from an average of Rs 241.43 crore in prior quarters.
Net sales for the quarter have also shown a decline of 6.9%, totaling Rs 1,325.19 crore, compared to an average of Rs 1,423.29 crore from the previous four quarters. Additionally, there has been an increase in interest costs, with expenses rising by 22.88% to Rs 102.73 crore over the last six months, suggesting higher levels of borrowing. A significant concern arises from the fact that non-operating income makes up 43.98% of its PBT, which raises questions about the sustainability of SCI's operational performance.

In the context of quarterly results, there was a slight growth in net sales of 0.73% compared to the previous quarter, while consolidated net profit exhibited a substantial growth of 145.15%. Operating profit margin, excluding other income, showed a minor change of 0.36%.

Overall, the company has experienced an adjustment in its evaluation, reflecting the mixed operational performance amid the challenges faced in key financial metrics.