GE Shipping reports net loss of Rs 34.16 crore in Q4FY17

06 May 2017

GE Shipping has reported results for fourth quarter and year ended March 31, 2017.   

The company has reported over 2-fold jump in its net profit after tax at Rs 155.33 crore for the quarter ended March 31, 2017 as compared to Rs 73.91 crore for the same quarter in the previous year.  Total income of the company increased by 6.03% at Rs 468.44 crore for quarter under review as compared to Rs 441.78 crore for the quarter ended March 31, 2016.

For the year ended March 31, 2017, the company has posted a fall of 2.73% in its net profit at Rs 601.39 crore as compared to Rs 618.28 crore in FY16. Total income from operations of the company too decreased by 13.61% at Rs 1703.96 crore for year under review as compared to Rs 1972.49 crore for the year ended March 31, 2016.

On consolidated basis, the company has reported a net loss after tax at Rs 34.16 crore for the quarter ended March 31, 2017 as compared to net profit of Rs 24.15 crore for the same quarter in the previous year. Total income from operations of the company decreased by 13.18 % at Rs 746.52 crore for quarter under review as compared to Rs 859.89 crore for the same quarter ended previous year.  

For the year ended March 31, 2017, on the consolidated basis, the company has posted a fall of 31.18% in its net profit at Rs 754.96 crore as compared to Rs 1096.98 crore in the previous year. Total income from operations of the company decreased by 18.14% at Rs 3116.86 crore for year under review as compared to Rs 3807.77 crore for the year ended March 31, 2016.

Related The Great Eastern Shipping Company Ltd. Links:

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