GE Shipping doubles 1Q PBT - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

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) 1QFY01 1QFY02 Change
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 341 718 110.7%
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* 8.4 11.4  
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.


Equitymaster requests your view! Post a comment on "GE Shipping doubles 1Q PBT". Click here!

  

More Views on News

G.E.SHIPPING Announces Quarterly Results (1QFY21); Net Profit Up 966.8% (Quarterly Result Update)

Aug 24, 2020 | Updated on Aug 24, 2020

For the quarter ended June 2020, G.E.SHIPPING has posted a net profit of Rs 5 bn (up 966.8% YoY). Sales on the other hand came in at Rs 11 bn (up 36.5% YoY). Read on for a complete analysis of G.E.SHIPPING's quarterly results.

G.E.SHIPPING Announces Quarterly Results (3QFY20); Net Profit Up 10.7% (Quarterly Result Update)

Feb 14, 2020 | Updated on Feb 14, 2020

For the quarter ended December 2019, G.E.SHIPPING has posted a net profit of Rs 3 bn (up 10.7% YoY). Sales on the other hand came in at Rs 11 bn (up 10.9% YoY). Read on for a complete analysis of G.E.SHIPPING's quarterly results.

More Views on News

Most Popular

How the 8-Year Cycle Can Help Identify Multibaggers (Fast Profits Daily)

Sep 11, 2020

This is how you can apply the greed and fear cycle in the market to pick stocks.

Why We Picked This Small-cap Stock for Our Hidden Treasure Subscribers (Profit Hunter)

Sep 17, 2020

This leading household brand will profit big time in a post covid world.

This Could Be the Best September for Auto Stocks (Profit Hunter)

Sep 11, 2020

Here's why I think this month could be a great for auto stocks.

What Do the Charts Say About Buying Smallcaps Now? (Fast Profits Daily)

Sep 18, 2020

Everyone seems to be excited about buying smallcaps now...but is it the right thing to do? What do the charts tell us? Find out in this video...

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

G.E.SHIPPING SHARE PRICE


Sep 23, 2020 09:35 AM

TRACK G.E.SHIPPING

  • Track your investment in G.E.SHIPPING with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

G.E.SHIPPING 8-QTR ANALYSIS

COMPARE G.E.SHIPPING WITH

MARKET STATS