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SHIPPING CORP. Announces Quarterly Results (1QFY19); Net Profit Up 2965.2%

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SHIPPING CORP. Announces Quarterly Results (1QFY19); Net Profit Up 2965.2%
Mon, 6 Aug

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

SHIPPING CORP. Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m8,6489,1698,943-2.5%3.4%
Other incomeRs m361364209-42.6%-42.2%
TurnoverRs m9,0099,5339,151-4.0%1.6%
ExpensesRs m6,9877,7728,91314.7%27.6%
Gross profitRs m1,6611,39729-97.9%-98.2%
DepreciationRs m1,4941,5291,5521.5%3.9%
InterestRs m44547058624.8%31.7%
Profit before taxRs m83-238-1,900-2394.4%
TaxRs m150-2,7831606.7%
Profit after taxRs m-672,545-2,060-180.9%
Gross profit margin%19.215.20.3
Effective tax rate%181.21,169.2-8.4
Net profit margin%-0.726.7-22.5
* 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 3.4% on a year-on-year (YoY) basis. The expenses were up by 27.6% YoY during the same period.
  • The company's operating profit declined by 98.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.3% in 1QFY19 as against 19.2% in 1QFY18.
  • Depreciation charges and finance costs increased by 3.9% YoY and 31.7% YoY, respectively.
  • Other income declined by 42.2% YoY during the quarter.
  • Net profit for the quarter increased by 2965.2% YoY. Net profit margins during the quarter declined from -0.7% in 1QFY18 to -22.5% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 14.7% QoQ during the same period.
  • The company's operating profit declined by 97.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.3% in 1QFY19 as against 15.2% in 4QFY18.
  • Net profit for the quarter declined by 180.9% QoQ, while net profit margins declined from 26.7% in 4QFY18 to -22.5% in 1QFY19.

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

SHIPPING CORP. Share Price Performance

Over the last one year, SHIPPING CORP. share price has moved up from Rs 88.9 to Rs 60.6, registering a Loss of Rs 28.3 or around 31.8%.

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 60.6, the price to earnings (P/E) ratio of SHIPPING CORP. stands at 51.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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