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SCI trims annual deficit

SCI trims annual deficit
Shipping Corporation of India (SCI) managed to narrow its annual net loss as revenue inched up.

SCI recorded an annual loss of INR4.14bn ($73.77m) in the financial year ended 31 March 2013, compared to a deficit of INR4.28bn in the previous year.

Revenue for the Mumbai-listed company rose marginally to INR43.6bn from INR43.1bn a year ago, despite inflated operating costs of INR47.01bn from INR44.53bn.