Great Eastern Shipping Company reports 58% fall in Q4 consolidated net profit

06 May 2016

Great Eastern Shipping Company has reported results for the fourth quarter and year ended March 31, 2016.

The company has posted a rise of 83.29% in its net profit at Rs 96.17 crore for the quarter ended March 31, 2016 as compared to Rs 52.47 crore for the same quarter in the previous year. Total income of the company has increased by 22.95% at Rs 559.68 crore for quarter under review as compared to Rs 455.20 crore for the quarter ended March 31, 2015.

On consolidated basis, the company has posted a fall of 57.51% in its net profit after taxes & minority interest  at Rs 58.20 crore for the quarter ended March 31, 2016 as compared to Rs 136.97 crore for the corresponding quarter in the FY15. However, total income of the company increased by 7.26% at Rs 968.42 crore for quarter under review as compared to Rs 902.87 crore for the same quarter ended previous year.

For the year ended March 31, 2016, the company has posted a rise of 92.22% in its net profit at Rs 609.9 crore as compared to Rs 317.3 crore for the same period in the previous year. Total income of company increased 13.38% at Rs 2279.53 crore for year under review as compared to Rs 2010.51 crore for the period ended March 31, 2015.

For the year ended March 31, 2016, on the consolidated basis, the company has posted rise of 38.91% in its net profit after taxes, minority interest and share of profit of associates at Rs 1039.4 crore as compared to Rs 748.24 crore for the same period in the previous year. Total income of company has increased by 9.83% at Rs 4078.51 crore for year under review as compared to Rs 3713.53 crore for the period ended March 31, 2015.

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