G.E.SHIPPING Announces Quarterly Results (3QFY19); Net Profit Up 204.1%

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G.E.SHIPPING Announces Quarterly Results (3QFY19); Net Profit Up 204.1%
Fri, 15 Feb

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

G.E.SHIPPING Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m8,2957,9949,71621.5%17.1%
Other incomeRs m90851572641.1%-20.1%
TurnoverRs m9,2038,50910,44222.7%13.5%
ExpensesRs m5,0555,5575,8114.6%15.0%
Gross profitRs m3,2406436,024836.5%85.9%
DepreciationRs m2,0441,9401,9741.8%-3.4%
InterestRs m8511,3601,351-0.7%58.7%
Profit before taxRs m1,254-2,1423,424173.2%
TaxRs m27293438371.5%61.3%
Profit after taxRs m982-2,2352,986204.1%
Gross profit margin%39.18.062.0
Effective tax rate%21.7-4.312.8
Net profit margin%10.7-26.328.6
* 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 17.1% on a year-on-year (YoY) basis. The expenses were up by 15.0% YoY during the same period.
  • The company's operating profit increased by 85.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 62.0% in 3QFY19 as against 39.1% in 3QFY18.
  • Depreciation charges declined by 3.4% and finance costs increased by 58.7% YoY, respectively.
  • Other income declined by 20.1% YoY during the quarter.
  • Net profit for the quarter increased by 204.1% YoY. Net profit margins during the quarter increased from 10.7% in 3QFY18 to 28.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 21.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.6% QoQ during the same period.
  • The company's operating profit increased by 836.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 62.0% in 3QFY19 as against 8.0% in 2QFY18.
  • Net profit for the quarter increased by 233.6% QoQ, while net profit margins increased from -26.3% in 2QFY18 to 28.6% in 3QFY19.

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 397.8 to Rs 272.0, registering a Loss of Rs 125.8 or around 31.6%.

Overall, the S&P BSE SENSEX is up 4.4% over the year.

Current Valuations

At the current price of Rs 272.0, the price to book value (P/BV) ratio of G.E.SHIPPING stands at 0.6 times.

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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.

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