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- SHIPPING CORP Announces Quarterly Results (3QFY21); Net Profit Down 63.7%
SHIPPING CORP Announces Quarterly Results (3QFY21); Net Profit Down 63.7%
Wed, 10 Feb
SHIPPING CORP has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:
SHIPPING CORP Quarterly Financials
| No. of Mths Qtr. Ending | 3 Dec-19* | 3 Sep-20* | 3 Dec-20* | QoQ Change | YoY Change | |
|---|---|---|---|---|---|---|
| Net Sales | Rs m | 12,576 | 8,432 | 8,412 | -0.2% | -33.1% |
| Other income | Rs m | 240 | 337 | 316 | -6.1% | 31.7% |
| Turnover | Rs m | 12,816 | 8,769 | 8,728 | -0.5% | -31.9% |
| Expenses | Rs m | 7,296 | 5,297 | 6,024 | 13.7% | -17.4% |
| Gross profit | Rs m | 5,280 | 3,135 | 2,388 | -23.8% | -54.8% |
| Depreciation | Rs m | 1,699 | 1,590 | 1,564 | -1.6% | -7.9% |
| Interest | Rs m | 792 | 548 | 66 | -88.0% | -91.7% |
| Profit before tax | Rs m | 3,029 | 1,334 | 1,074 | -19.5% | -64.5% |
| Tax | Rs m | 184 | 23 | 41 | 82.2% | -77.7% |
| Profit after tax | Rs m | 2,845 | 1,311 | 1,033 | -21.2% | -63.7% |
| Gross profit margin | % | 42.0 | 37.2 | 28.4 | ||
| Effective tax rate | % | 6.1 | 1.7 | 3.8 | ||
| Net profit margin | % | 22.2 | 15.0 | 11.8 |
Interim results exclude extraordinary / exceptional items
Year-on-Year Performance:
- The company's operating income during the quarter fell 33.1% on a year-on-year (YoY) basis. The expenses were down by 17.4% YoY during the same period.
- The company's operating profit declined by 54.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 28.4% in 3QFY21 as against 42.0% in 3QFY20.
- Depreciation charges declined by 7.9% and finance costs declined by 91.7% YoY, respectively.
- Other income increased by 31.7% YoY during the quarter.
- Net profit for the quarter declined by 63.7% YoY. Net profit margins during the quarter declined from 22.2% in 3QFY20 to 11.8% in 3QFY21.
Quarter-on-Quarter Performance:
- The company's operating income during the quarter fell 0.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 13.7% QoQ during the same period.
- The company's operating profit declined by 23.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 28.4% in 3QFY21 as against 37.2% in 2QFY20.
- Net profit for the quarter declined by 21.2% QoQ, while net profit margins declined from 15.0% in 2QFY20 to 11.8% in 3QFY21.
To see how SHIPPING CORP has performed over the last eight quarters,please visit here.
LIVE on April 23rd: Has Covid impacted India's long-term growth potential?
SHIPPING CORP Share Price Performance
Over the last one year, SHIPPING CORP share price has moved up from Rs 59.4 to Rs 84.9, registering a Gain of Rs 25.6 or around 43.0%.
Overall, the S&P BSE SENSEX is up 25.0% over the year.
Current Valuations
At the current price of Rs 84.9, the price to earnings (P/E) ratio of SHIPPING CORP stands at 5.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.
Related Views on News
SHIPPING CORP. Announces Quarterly Results (1QFY20); Net Loss Down 80.9% (Quarterly Result Update)
Aug 19, 2019 | Updated on Aug 19, 2019For the quarter ended June 2019, SHIPPING CORP. has posted a net loss of Rs 394 mn. Sales on the other hand came in at Rs 9 bn (up 4.3% YoY). Read on for a complete analysis of SHIPPING CORP.'s quarterly results.
SHIPPING CORP. Announces Quarterly Results (4QFY19); Net Profit Down 81.9% (Quarterly Result Update)
May 30, 2019 | Updated on May 30, 2019For 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.
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