Great Eastern (GE) Shipping Company recoverd most of its losses and ended flat at Rs 239, down Rs 2. The stock clocked a volume of 463,030 shares on the BSE today.
Great Eastern (GE) Shipping Company has slumped from the day's high following drop in Q4 net.
The stock had soared to a high of Rs 251 in the morning following rise in shipping stocks due to the Bharati-Great Offshore deal. It tumbled in mid noon trades to a low of Rs 225 - down over 10% from the day's high.
The stock is trading at Rs 229, down almost 5%. Around 368,740 stocks have traded hands at the counter so far.
According to a release issued by the company to the BSE today, the net profit has dropped 16.5% to Rs 250.05 crore for the quarter ended March 31,2009 from Rs 299.41 crore for the corresponding quarter a year ago. The total income has declined 25% from Rs 824.34 crore in Q4FY08 to Rs 622.41 crore in Q4FY09.
Further, the company's board has declared a final payout of Rs 3 per share for the fiscal year FY09.
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