It booked a gain of INR 185.9m ($3m), improving from a INR 1.23bn deficit in the same stretch of last year.

This was the second consecutive profitable quarter for SCI after two years in the red, which put its “navratna” tax status in jeopardy.

Quarterly revenue stood at INR 11.94bn, up from INR 10.86bn.

The bulk segment showed the biggest improvement as its revenue stood at INR 7.56bn,