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GE Shipping doubles 1Q PBT

Jul 26, 2001

GE Shipping has reported over 100% jump in profits before tax, on a topline growth of 46%. Profit growth was partly fueled by a 22% reduction in interest cost.

(Rs m)1QFY011QFY02Change
Sales 2,313 3,381 46.2%
Other Income 58 48 -18.1%
Expenditure 1,354 2,081 53.7%
Operating Profit (EBDIT) 959 1,300 35.5%
Operating Profit Margin (%)41.5%38.4% 
Interest 184 144 -22.0%
Depreciation 492 485 -1.4%
Profit before Tax 341 718110.7%
Other Adjustments (158)46 
Tax 44 55 25.9%
Profit after Tax/(Loss) 455 617 35.5%
Net profit margin (%)19.7%18.3% 
No. of Shares (eoy) (m) 258.8 215.9  
Diluted Earnings per share*8.411.4 
P/E (at current price)  2  
*(annualised)   

During the quarter, the company has made provision of Rs 46.2 m towards deferred tax liability in accordance with the new Accounting Standard for taxes on income. As a result, net profit was up by just 36%. Also, in the previous year, GE Shipping had the benefit of an extraordinary income of Rs 158 m.

At the current market price of Rs 27, the stock is trading at a P/E multiple of 2.7x FY02 projected earnings.

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G.E.SHIPPING 2020-21 Annual Report Analysis (Annual Result Update)

Oct 26, 2021 | Updated on Oct 26, 2021

Here's an analysis of the annual report of G.E.SHIPPING for 2020-21. It includes a full income statement, balance sheet and cash flow analysis of G.E.SHIPPING. Also includes updates on the valuation of G.E.SHIPPING.

G.E.SHIPPING Announces Quarterly Results (1QFY22); Net Profit Down 97.4% (Quarterly Result Update)

Jul 31, 2021 | Updated on Jul 31, 2021

For the quarter ended June 2021, G.E.SHIPPING has posted a net profit of Rs 124 m (down 97.4% YoY). Sales on the other hand came in at Rs 8 bn (down 28.0% YoY). Read on for a complete analysis of G.E.SHIPPING's quarterly results.

G.E.SHIPPING Announces Quarterly Results (3QFY21); Net Profit Down 46.7% (Quarterly Result Update)

Feb 1, 2021 | Updated on Feb 1, 2021

For the quarter ended December 2020, G.E.SHIPPING has posted a net profit of Rs 2 bn (down 46.7% YoY). Sales on the other hand came in at Rs 8 bn (down 30.1% YoY). Read on for a complete analysis of G.E.SHIPPING's quarterly results.

G.E.SHIPPING 2019-20 Annual Report Analysis (Annual Result Update)

Nov 20, 2020 | Updated on Nov 20, 2020

Here's an analysis of the annual report of G.E.SHIPPING for 2019-20. It includes a full income statement, balance sheet and cash flow analysis of G.E.SHIPPING. Also includes updates on the valuation of G.E.SHIPPING.

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