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SHIPPING CORP. Announces Quarterly Results (4QFY18); Net Profit Up 175.5%

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SHIPPING CORP. Announces Quarterly Results (4QFY18); Net Profit Up 175.5%
Fri, 25 May

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

SHIPPING CORP. Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-17*
3
Dec-17*
3
Mar-18*
QoQ ChangeYoY Change
Net SalesRs m8,9778,7969,1694.2%2.1%
Other incomeRs m5061,101364-67.0%-28.2%
TurnoverRs m9,4849,8979,533-3.7%0.5%
ExpensesRs m6,6926,9037,77212.6%16.1%
Gross profitRs m2,2861,8931,397-26.2%-38.9%
DepreciationRs m1,5591,5521,529-1.5%-1.9%
InterestRs m43041047014.7%9.2%
Profit before taxRs m8031,032-238-123.1%-129.6%
TaxRs m-120210-2,783-1425.1%
Profit after taxRs m9248222,545209.7%175.5%
Gross profit margin%25.521.515.2
Effective tax rate%-15.020.41,169.2
Net profit margin%9.78.326.7
* 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 2.1% on a year-on-year (YoY) basis. The expenses were up by 16.1% YoY during the same period.
  • The company's operating profit declined by 38.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.2% in 4QFY18 as against 25.5% in 4QFY17.
  • Depreciation charges and finance costs declined by 1.9% YoY and 9.2% YoY, respectively.
  • Other income declined by 28.2% YoY during the quarter.
  • Net profit for the quarter increased by 175.5% YoY. Net profit margins during the quarter increased from 9.7% in 4QFY17 to 26.7% in 4QFY18.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.6% QoQ during the same period.
  • The company's operating profit increased by 26.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.2% in 4QFY18 as against 21.5% in 3QFY17.
  • Net profit for the quarter increased by 209.7% QoQ, while net profit margins increased from 9.3% in 3QFY17 to 26.7% in 4QFY18.

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 69.6 to Rs 64.4, registering a Loss of Rs -5.3 or around 7.5%.

Overall, the S&P BSE SENSEX is up 0.7% over the year.

Current Valuations

At the current price of Rs 64.4, the price to earnings (P/E) ratio of SHIPPING CORP. stands at 11.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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