SHIPPING CORP. Announces Quarterly Results (1QFY20); Net Loss Down 80.9%

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SHIPPING CORP. Announces Quarterly Results (1QFY20); Net Loss Down 80.9%
Mon, 19 Aug

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

SHIPPING CORP. Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m8,94310,1909,330-8.4%4.3%
Other incomeRs m209836352-57.8%69.0%
TurnoverRs m9,15111,0259,682-12.2%5.8%
ExpensesRs m8,9138,3337,619-8.6%-14.5%
Gross profitRs m291,8571,711-7.9%5720.4%
DepreciationRs m1,5521,7011,695-0.4%9.2%
InterestRs m586620593-4.4%1.1%
Profit before taxRs m-1,900371-224-160.2%
TaxRs m160-891706.3%
Profit after taxRs m-2,060460-394-185.6%
Gross profit margin%0.318.218.3
Effective tax rate%-8.4-23.9-76.0
Net profit margin%-22.54.2-4.1
* 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 4.3% on a year-on-year (YoY) basis. The expenses were down by 14.5% YoY during the same period.
  • The company's operating profit increased by 5720.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.3% in 1QFY20 as against 0.3% in 1QFY19.
  • Depreciation charges increased by 9.2% and finance costs increased by 1.1% YoY, respectively.
  • Other income increased by 69.0% YoY during the quarter.
  • Net loss for the quarter decreased by 80.9% YoY.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 8.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 8.6% QoQ during the same period.
  • The company's operating profit declined by 7.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.3% in 1QFY20 as against 18.2% in 4QFY19.
  • Net profit for the quarter declined by 185.6% QoQ, while net profit margins declined from 4.2% in 4QFY19 to -4.1% in 1QFY20.

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 down from Rs 57.8 to Rs 27.0, registering a Loss of Rs 30.8 or around 53.3%.

Overall, the S&P BSE SENSEX is down 0.0% over the year.

Current Valuations

At the current price of Rs 27.0, the price to earnings (P/E) ratio of SHIPPING CORP. stands at 28.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.2 times.

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Related Views on News

SHIPPING CORP. Announces Quarterly Results (4QFY19); Net Profit Down 81.9% (Quarterly Result Update)

May 30, 2019 | Updated on May 30, 2019

For the quarter ended March 2019, SHIPPING CORP. has posted a net profit of Rs 460 m (down 81.9% YoY). Sales on the other hand came in at Rs 10 bn (up 11.1% YoY). Read on for a complete analysis of SHIPPING CORP.'s quarterly results.

SHIPPING CORP. 2017-18 Annual Report Analysis (Annual Result Update)

Mar 19, 2019 | Updated on Mar 19, 2019

Here's an analysis of the annual report of SHIPPING CORP. for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of SHIPPING CORP.. Also includes updates on the valuation of SHIPPING CORP..

SHIPPING CORP. Announces Quarterly Results (3QFY19); Net Profit Up 119.7% (Quarterly Result Update)

Feb 12, 2019 | Updated on Feb 12, 2019

For the quarter ended December 2018, SHIPPING CORP. has posted a net profit of Rs 2 bn (up 119.7% YoY). Sales on the other hand came in at Rs 11 bn (up 22.2% YoY). Read on for a complete analysis of SHIPPING CORP.'s quarterly results.

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