Public sector Shipping Corporation of India (SCI) has finally received the Central government approval to acquire four bulk vessels.

The Government has granted approval to the company, for acquisition of four Panamax bulk carriers of about 80,000 Dead Weight Tonnes (dwt) each.

The company has registered a net profit of Rs 279.6 crore for the first quarter of the current fiscal, a 35.64 per cent growth over the corresponding period a year ago.

The company had a net profit of Rs 206.12 crore in the first quarter of FY'08.

Recently, the board has approved the issuance of one bonus share of nominal value of Rs 10, for every two share held in the company.