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G.E.SHIPPING Announces Quarterly Results (2QFY19); Net Profit Down 3357.6%

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G.E.SHIPPING Announces Quarterly Results (2QFY19); Net Profit Down 3357.6%
Mon, 5 Nov

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

G.E.SHIPPING Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m7,0248,2137,994-2.7%13.8%
Other incomeRs m1,128552515-6.7%-54.4%
TurnoverRs m8,1528,7648,509-2.9%4.4%
ExpensesRs m4,1017,9195,557-29.8%35.5%
Gross profitRs m2,923294643118.8%-78.0%
DepreciationRs m1,9021,9111,9401.5%2.0%
InterestRs m1,4451,2851,3605.8%-5.9%
Profit before taxRs m704-2,350-2,142-404.3%
TaxRs m63510193-7.6%-85.4%
Profit after taxRs m69-2,451-2,235-3357.6%
Gross profit margin%41.63.68.0
Effective tax rate%90.3-4.3-4.3
Net profit margin%0.8-28.0-26.3
* 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 13.8% on a year-on-year (YoY) basis. The expenses were up by 35.5% YoY during the same period.
  • The company's operating profit declined by 78.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.0% in 2QFY19 as against 41.6% in 2QFY18.
  • Depreciation charges increased by 2.0% and finance costs declined by 5.9% YoY, respectively.
  • Other income declined by 54.4% YoY during the quarter.
  • Net profit for the quarter declined by 3357.6% YoY. Net profit margins during the quarter declined from 0.8% in 2QFY18 to -26.3% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 29.8% QoQ during the same period.
  • The company's operating profit increased by 118.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 8.0% in 2QFY19 as against 3.6% in 1QFY18.
  • Net profit for the quarter increased by 8.8% QoQ, while net profit margins increased from -28.0% in 1QFY18 to -26.3% in 2QFY19.

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 400.9 to Rs 308.2, registering a Loss of Rs 92.7 or around 23.1%.

Overall, the S&P BSE SENSEX is up 4.0% over the year.

Current Valuations

At the current price of Rs 308.2, the price to book value (P/BV) ratio of G.E.SHIPPING stands at 0.7 times.

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