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G.E.SHIPPING Announces Quarterly Results (4QFY19); Net Profit Up 135.5%

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G.E.SHIPPING Announces Quarterly Results (4QFY19); Net Profit Up 135.5%
Tue, 7 May

G.E.SHIPPING has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

G.E.SHIPPING Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m7,6899,7169,7440.3%26.7%
Other incomeRs m463726526-27.6%13.4%
TurnoverRs m8,15210,44210,270-1.6%26.0%
ExpensesRs m7,6185,8115,663-2.5%-25.7%
Gross profitRs m716,0244,081-32.2%5680.9%
DepreciationRs m1,8941,9741,902-3.7%0.4%
InterestRs m1,2311,3511,216-10.0%-1.2%
Profit before taxRs m-2,5913,4241,489-56.5%
TaxRs m1,5914384-99.0%-99.7%
Profit after taxRs m-4,1822,9861,485-50.3%
Gross profit margin%0.962.041.9
Effective tax rate%-61.412.80.3
Net profit margin%-51.328.614.5
* 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 26.7% on a year-on-year (YoY) basis. The expenses were down by 25.7% YoY during the same period.
  • The company's operating profit increased by 5680.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 41.9% in 4QFY19 as against 0.9% in 4QFY18.
  • Depreciation charges increased by 0.4% and finance costs declined by 1.2% YoY, respectively.
  • Other income increased by 13.4% YoY during the quarter.
  • Net profit for the quarter increased by 135.5% YoY. Net profit margins during the quarter increased from -51.3% in 4QFY18 to 14.5% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.5% QoQ during the same period.
  • The company's operating profit declined by 32.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 41.9% in 4QFY19 as against 62.0% in 3QFY18.
  • Net profit for the quarter declined by 50.3% QoQ, while net profit margins declined from 28.6% in 3QFY18 to 14.5% in 4QFY19.

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 347.4 to Rs 280.0, registering a Loss of Rs 67.4 or around 19.4%.

Overall, the S&P BSE SENSEX is up 9.8% over the year.

Current Valuations

At the current price of Rs 280.0, 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 June 2019, G.E.SHIPPING has posted a net profit of Rs 540 m (up 78.0% YoY). Sales on the other hand came in at Rs 8 bn (down 4.7% YoY). Read on for a complete analysis of G.E.SHIPPING's quarterly results.

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