Shipping Corporation announced a huge decline in standalone net profit for the quarter ended September 2009. During the quarter, the profit of the company declined 87.74% to INR 337 million from INR 2,748.80 million in the same quarter previous year.

SCI’s net sales declined 28.68% to INR 8,449 million, while total income for the quarter fell 29.22% to INR 9,092.60 million, when compared with the prior year period.

During the quarter, the operating margin of the company dropped to 12.44% as compared with 24.51% in the previous year period. Interest cost increased 27.83% to INR 150.20 million while depreciation cost rose 33.93% to INR 957.30 million over previous year period.