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GE Shipping: Sailing ahead...

Nov 14, 2003

GE Shipping announced its 2QFY04 results recently. Strong growth in dry bulk freight rates and other income has helped the company record an 8% growth in the topline and a 41% growth in bottomline. For 1HFY04, the performance has been even better with the company reporting a 20% growth in revenues and a 104% growth in net profit.

Results at a glance...
(Rs m) 2QFY03 2QFY04 Change 1HFY03 1HFY04 Change
Net Sales 2,458 2,659 8.2% 4,618 5,548 20.1%
Other Income 157 278 77.0% 311 431 38.7%
Expenditure 1,442 1,601 11.0% 2,822 3,026 7.2%
Operating Profit (EBDIT) 1,016 1,059 4.2% 1,796 2,522 40.4%
Operating Profit Margin (%) 41.3% 39.8%   38.9% 45.5%  
Interest 107 104 -2.7% 201 208 3.5%
Depreciation 436 461 5.7% 893 876 -2.0%
Profit before Tax 630 772 22.6% 1,012 1,869 84.6%
Extra-ordinary item -1 41   1 36  
Tax 62 12 -80.5% 149 142 -5.0%
Profit after Tax/(Loss) 567 801 41.2% 864 1,764 104.0%
Net profit margin (%) 23.1% 30.1%   18.7% 31.8%  
No. of Shares 190.3 190.3   190.3 190.3  
Diluted Earnings per share* 11.9 16.8   9.1 18.5  
P/E Ratio   7.1     6.5  
(* annualised)            

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Sep 23, 2020 03:33 PM

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