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Low freight rates pull down Varun Shipping's net - Views on News from Equitymaster
 
 
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  • Jan 21, 2000

    Low freight rates pull down Varun Shipping's net

    Varun Shipping has suffered a 47% decline in net profits for the quarter ended 31st December 1999. The decline in expenditure has been lesser than the fall in revenues resulting in a sharper fall in net profits.

    (Rs m) 3QFY2000 3QFY1999 Change
    Income from operations 425.5 478.9 -11.2%
    Other Income 1.2 0.9 24.3%
    Expenditure 230.5 235.4 -2.0%
    Interest 78.5 89.8 -12.5%
    Depreciation 96.8 116.1 -16.7%
    Profit before Tax 20.8 38.6 -46.0%
    Tax 2.4 4.1 -41.6%
    Profit after Tax/(Loss) 18.4 34.5 -46.6%
    Net profit margin (%) 4.3% 7.2%  

     

     

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