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

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SHIPPING CORP. Announces Quarterly Results (3QFY19); Net Profit Up 119.7%
Tue, 12 Feb

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

SHIPPING CORP. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m8,7969,39810,74914.4%22.2%
Other incomeRs m1,1011,1231,62444.6%47.5%
TurnoverRs m9,89710,52112,37317.6%25.0%
ExpensesRs m6,9039,4978,033-15.4%16.4%
Gross profitRs m1,8932,3522,71615.4%43.5%
DepreciationRs m1,5521,6321,7004.2%9.5%
InterestRs m4106186342.7%54.9%
Profit before taxRs m1,0321,2252,00563.7%94.4%
TaxRs m2102002000.0%-4.8%
Profit after taxRs m8221,0251,80576.1%119.7%
Gross profit margin%21.525.025.3
Effective tax rate%20.416.310.0
Net profit margin%8.39.714.6
* 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 22.2% on a year-on-year (YoY) basis. The expenses were up by 16.4% YoY during the same period.
  • The company's operating profit increased by 43.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.3% in 3QFY19 as against 21.5% in 3QFY18.
  • Depreciation charges increased by 9.5% and finance costs increased by 54.9% YoY, respectively.
  • Other income increased by 47.5% YoY during the quarter.
  • Net profit for the quarter increased by 119.7% YoY. Net profit margins during the quarter increased from 8.3% in 3QFY18 to 14.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 14.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 15.4% QoQ during the same period.
  • The company's operating profit increased by 15.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.3% in 3QFY19 as against 25.0% in 2QFY18.
  • Net profit for the quarter increased by 76.1% QoQ, while net profit margins increased from 9.7% in 2QFY18 to 14.6% in 3QFY19.

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 85.5 to Rs 38.0, registering a Loss of Rs 47.6 or around 55.6%.

Overall, the S&P BSE SENSEX is up 6.1% over the year.

Current Valuations

At the current price of Rs 38.0, the price to earnings (P/E) ratio of SHIPPING CORP. stands at 5.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.3 times.

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