On a consolidated basis, Great Eastern Shipping Company (G E Shipping)'s net profit stood at Rs 49.01 crore in Q4 FY21 as against a net loss of Rs 50.68 crore in Q4 FY20.
Net sales dropped 26.7% to Rs 739.95 crore in Q4 FY21 over Q4 FY20. Reported EBITDA jumped 50.96% year-on-year to Rs 314 crore in Q4 FY21.
The consolidated net profit surged 343.43% to Rs 918.52 crore on 9.50% decline in net sales to Rs 3,336.55 crore in the year ended March 2021 over the year ended March 2020. Reported EBITDA rose 28.85% to Rs 1,840 crore during the year.
Long term debt (net of cash) declined 47.10% to Rs 975 crore as on 31 March 2021 compared with Rs 1,843 crore as on 31 March 2020.
The board has recommended a final dividend of Rs 9 per share for the financial year ended 31 March 2021.
The board has approved issuing non-convertible debentures upto Rs 1,000 crore through private placement during a period of one year.
G E Shipping has two main businesses: shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business services to the oil companies in carrying out offshore exploration and production activities, through its subsidiary Greatship (India).
Shares of G E Shipping fell 1.74% to close at Rs 381.45 on Friday.
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