Shipping biz to revive in FY13; No plans to diversify: SCI

The Shipping Corporation Of India (SCI) has announced its first-quarter earnings on Friday. SCI chairman-and-managing director S Hajara explains to CNBC-TV18 various facetsof PSU鈥檚 performance including the increase in the net loss to Rs 54.8 crorefrom Rs 5.9 crore. Below is an edited transcript of the interview on CNBC-TV18. Q: Your top-line has been good. Why has the net loss widened? A: You are comparing this quarter's net loss with the corresponding quarter of the previous year. But if you look at the just-concluded quarter, then the net loss has gone down substantially. Our top-line has increased by almost a quarter and there are a couple of items whichhave hit the bottom-line. A key item is cost of the bunker which has gone up by Rs 126 crore. The secondmost important issue is theloss in foreign exchange. We lost Rs 76 crore due to the reevaluation of foreign exchange loans due to the dollar-rupee parity. This is not a cash loss. It is only a re-evaluation which has