The Bombay-listed owner carded a net loss of INR 6.6bn ($106.6m) for the three months to 31 December up from a INR 7.5bn deficit during the final three months of 2012.

Total revenue for the period came in slightly down at INR 99.8bn from INR 1.02 trillion.

SCI’s two major segments, liner and bulk shipping, experienced contrasting fortunes.

The company’s liner business fell to a loss before tax and interest of INR 11.6bn