Shares of state-run Shipping Corporation of India Ltd. (SCIL) fell as much as 8.5% on Monday, November 10, in response to their September quarter results that were reported after market hours on Friday.

Shipping Corp's revenue for the September quarter declined by 7.7% to ₹1,338.8 crore from ₹1,450.7 crore during the same period last year.

The company's net profit declined by one-third, a 35% fall to ₹189 crore from ₹291 crore during the year-ago quarter.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter fell by 23.7% on a year-on-year basis to ₹406 crore, while margins narrowed by over 600 basis points to 30.3% from 36.7% during the last year's quarter.

Shipping Corp's cash position at the end of the quarter, including liquid Mutual Funds stood at ₹

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