GESCO posts 5% decline in topline - Views on News from Equitymaster

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GESCO posts 5% decline in topline

Oct 21, 1999

If the income from the sale of vessels and other assets were to be ignored the company has suffered a sharp fall in profits. However, the company has recorded an increase of 25% in operating profits generated from shipping activities. This bodes well for the company as the shipping sector is looking up on account of a recovery in global economy.

(Rs m) 2QFY2000 2QFY1999 Change
Income from operations 2,115 2,225 -4.9%
Gain on sale of assets 380 - NM
Other Income 70 210 -66.6%
Expenditure 1,464 1,513 -3.2%
Interest 141 136 3.8%
Depreciation 429 382 12.4%
Profit before Tax 524 405 29.5%
Tax 41 54 -23.8%
Profit after Tax 483 350 37.8%
Net profit margin 22.8% 15.8%
Break up of operating profit
(Rs m) 1HFY00 1HFY99 Change
Shipping 1590 1271 25.0%
Offshore 263 324 -19.0%
Property Development 56 69 -19.4%
Others 107 353 -69.6%
2015 2017 -0.1%
Less Admin. Expenses 130 120 8.3%
Total 1885 1897 -0.6%

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