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, revealing several key trends. The company's Profit Before Tax (PBT) has notably declined by 45.4%, now at Rs 95.98 crore, which is significantly lower than the average PBT of Rs 175.70 crore over the previous four quarters. Similarly, Profit After Tax (PAT) has decreased by 23.3%, standing at Rs 185.14 crore compared to the average of Rs 241.43 crore in prior quarters.
In terms of revenue, net sales have declined by 6.9%, totaling Rs 1,325.19 crore, which is below the average of Rs 1,423.29 crore from the previous four quarters. Additionally, the company has faced an increase in interest costs, with expenses rising by 22.88% to Rs 102.73 crore over the last six months, indicating a higher level of borrowings. A noteworthy concern is that non-operating income makes up 43.98% of its PBT, which raises questions regarding the sustainability of its core business operations.

On a quarter-over-quarter basis, there are some positive indicators, as net sales showed a slight growth of 0.73% compared to the previous quarter. The consolidated net profit also exhibited a significant growth of 145.15% in the same period. However, the operating profit margin, excluding other income, reflects a marginal change, indicating stability in that aspect.

Overall, the company saw an adjustment in its evaluation, reflecting the mixed operational performance and the challenges it faces in sustaining profitability.