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G.E.SHIPPING Announces Quarterly Results (1QFY19); Net Profit Down 336.7%

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G.E.SHIPPING Announces Quarterly Results (1QFY19); Net Profit Down 336.7%
Mon, 13 Aug

G.E.SHIPPING has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

G.E.SHIPPING Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m7,3767,6898,2136.8%11.4%
Other incomeRs m1,19946355219.0%-54.0%
TurnoverRs m8,5748,1528,7647.5%2.2%
ExpensesRs m4,2877,6187,9193.9%84.7%
Gross profitRs m3,08971294316.4%-90.5%
DepreciationRs m1,8471,8941,9110.9%3.4%
InterestRs m1,0241,2311,2854.4%25.5%
Profit before taxRs m1,417-2,591-2,350-265.9%
TaxRs m3811,591101-93.7%-73.6%
Profit after taxRs m1,036-4,182-2,451-336.7%
Gross profit margin%41.90.93.6
Effective tax rate%26.9-61.4-4.3
Net profit margin%12.1-51.3-28.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 11.4% on a year-on-year (YoY) basis. The expenses were up by 84.7% YoY during the same period.
  • The company's operating profit declined by 90.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.6% in 1QFY19 as against 41.9% in 1QFY18.
  • Depreciation charges and finance costs increased by 3.4% YoY and 25.5% YoY, respectively.
  • Other income declined by 54.0% YoY during the quarter.
  • Net profit for the quarter declined by 336.7% YoY. Net profit margins during the quarter declined from 12.1% in 1QFY18 to -28.0% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.9% QoQ during the same period.
  • The company's operating profit increased by 316.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 3.6% in 1QFY19 as against 0.9% in 4QFY18.
  • Net profit for the quarter declined by 41.4% QoQ, while net profit margins increased from -51.3% in 4QFY18 to -28.0% in 1QFY19.

To see how G.E.SHIPPING has performed over the last eight quarters, please visit here.

G.E.SHIPPING Share Price Performance

Over the last one year, G.E.SHIPPING share price has moved up from Rs 366.2 to Rs 315.6, registering a Loss of Rs 50.6 or around 13.8%.

Overall, the S&P BSE SENSEX is up 19.5% over the year.

Current Valuations

At the current price of Rs 315.6, the price to book value (P/BV) ratio of G.E.SHIPPING stands at 0.7 times.

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