Moneycontrol Bureau
Great Eastern Shipping Company's first quarter profit shot up 45.1 percent year-on-year to Rs 323.6 crore, boosted by strong operational performance on low fuel cost despite lower other income.
Revenue in Q1 increased by 17 percent to Rs 946.5 crore compared to Rs 808.2 crore in the year-ago period.
Total expenses increased marginally to Rs 442.1 crore from Rs 437.5 crore year-on-year as fuel oil and water expenses dropped sharply to Rs 80.55 crore in June quarter from Rs 119.3 crore in the same quarter last year.
Shipping business reported a 11.4 percent growth on yearly basis at Rs 563.4 crore with EBIT (earnings before interest and tax) rising 75.6 percent while offshore revenue climbed 14.4 percent to Rs 497.44 crore with 8 percent rise in EBIT.
Other income declined 18 percent to Rs 80.3 crore from Rs 97.85 crore year-on-year.
At 13:29 hours IST, the scrip of Great Eastern Shipping Company was quoting at Rs 384.25, up Rs 2.45, or 0.64 percent on the BSE.Posted by Sunil Shankar Matkar
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