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Moneycontrol.com >> Message Board >> View Messages >> Varun Shipping
   You are here :     Moneycontrol     MMB      Stocks      Varun Shipping
Disappointing Q4 - Net loss 30.28 crores. (9)   13-May-08 21:40Tracked by (0)  
Posted by:   pkadel on ( 13-May-08 21:40 )
Price : BSE: Rs 78.85 ( -0.57 % ), NSE: Rs. 79.20 ( 0.13 % )
A close look at Annual results mean that it incurred net loss of Rs.30.28 crores due to forex loss of Rs.50 crores. i.e. if we exclude forex loss of Rs.50 crores then it would have net profit of Rs.19.72 cr which is also too low considering buoyancy of freight rates due to trading of crude at all time high betwn USD 95 to 115 during Q4 period.

I think the vessels of varun shipping are not efficiently used for transportation purpose instead looks sailing blank or they are idle.

In brief very disappointing results and needs Sell rating in the short term until they show impressive results.
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  • 25, 17:30
  • Last Price
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  • Volume 
  • BSE
  • Rs.68.00
  •  -0.55    -0.80%
  • 20814 
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  • Rs.67.40
  •  -1.05    -1.53%
  • 39672 
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