SHIPPING CORP. Announces Quarterly Results (2QFY19); Net Profit Up 234.6%

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SHIPPING CORP. Announces Quarterly Results (2QFY19); Net Profit Up 234.6%
Mon, 5 Nov

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

SHIPPING CORP. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m8,0828,9439,3985.1%16.3%
Other incomeRs m1662091,123438.6%574.9%
TurnoverRs m8,2499,15110,52115.0%27.6%
ExpensesRs m6,8298,9139,4976.5%39.1%
Gross profitRs m1,253292,3527900.7%87.7%
DepreciationRs m1,5271,5521,6325.2%6.8%
InterestRs m4745866185.4%30.5%
Profit before taxRs m-582-1,9001,225
TaxRs m18016020025.0%11.1%
Profit after taxRs m-762-2,0601,025
Gross profit margin%15.50.325.0
Effective tax rate%-30.9-8.416.3
Net profit margin%-9.2-22.59.7
* 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 16.3% on a year-on-year (YoY) basis. The expenses were up by 39.1% YoY during the same period.
  • The company's operating profit increased by 87.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.0% in 2QFY19 as against 15.5% in 2QFY18.
  • Depreciation charges increased by 6.8% and finance costs increased by 30.5% YoY, respectively.
  • Other income increased by 574.9% YoY during the quarter.
  • Net profit for the quarter increased by 234.6% YoY. Net profit margins during the quarter increased from -9.2% in 2QFY18 to 9.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.5% QoQ during the same period.
  • The company's operating profit increased by 7900.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.0% in 2QFY19 as against 0.3% in 1QFY18.
  • Net profit for the quarter increased by 149.8% QoQ, while net profit margins increased from -22.5% in 1QFY18 to 9.7% in 2QFY19.

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 108.8 to Rs 44.0, registering a Loss of Rs 64.8 or around 59.6%.

Overall, the S&P BSE SENSEX is up 3.8% over the year.

Current Valuations

At the current price of Rs 44.0, the price to earnings (P/E) ratio of SHIPPING CORP. stands at 8.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.3 times.

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

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