GE Shipping reports 25% fall in Q1 consolidated net profit

11 Aug 2016

Great Eastern Shipping Company (GE Shipping) has reported results for first quarter ended June 30, 2016.

The company has reported 15.66% fall in its net profit at Rs 103.56 crore for the quarter ended June 30, 2016 as compared to Rs 122.79 crore for the same quarter in the previous year. However, the company’s total income increased by 0.91% to Rs 496.10 crore for the quarter under review from Rs 491.63 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 24.84% fall in its net profit at Rs 233.62 crore for the quarter ended June 30, 2016 as compared to Rs 310.83 crore for the same quarter in the previous year. Total Income of the company decreased by 10.68% to Rs 892.89 crore for quarter under review from Rs 999.65 crore for the quarter ended June 30, 2015.

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