The Kerala Shipping and Inland Navigation Corporation (KSINC), which incurred a ₹98-lakh loss in 2018-19, has for the first time since its inception, recorded a profit of ₹1 crore in 2019-20, Additional Chief Secretary Viswas Mehta, Chairman of the Corporation, said on Thursday. The public sector undertaking focusses on water transportation.
The total revenue of the Corporation increased 45% from ₹13.21 crore last year and touched ₹19.17 crore in the last fiscal. Freight revenue went up from ₹4.57 crore to ₹6.91 crore. Passenger and water sport revenue increased from ₹3.05 crore to ₹4.52 crore. The revenue from Nefertiti, the luxury cruise vessel of the Corporation, went up from ₹69.84 lakh to ₹2.4 crore. Nefertiti could not meet its expected annual revenue due to the lockdown.