11-08-2018

GE Shipping reports Rs 2.45 bn loss in Apr-Jun qtr; revenue at Rs 8.76 bn

Great Eastern Shipping Company (GE Shipping) on Friday reported a consolidated net loss of Rs 2.45 billion during the quarter ended June 30, 2018.

The company had posted a net profit of Rs 1.03 billion during the same period a year ago, it said in a BSE filing.

Total income of the company during the said quarter grew to Rs 8.76 billion compared to Rs 7.77 billion in the year-ago period.

During April-June 2018, its expenses were Rs 11.11 billion as against Rs 6.35 billion during the same quarter previous fiscal.

G E Shipping is the country’s leading private sector shipping service provider with presence in the international maritime industry. It operates under two main businesses – dry bulk carriers and tankers.

Shares of the company today ended 2.07 per cent up at Rs 327.45 apiece on BSE.

Source: PTI

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