GE Shipping drops after reporting poor Q1 numbers

Great Eastern Shipping Company lost 3.2% to Rs 340.05 at 14:27 IST on BSE after consolidated net profit fell 24.83% to Rs 233.62 crore on 10.67% decline in revenue including other income to Rs 892.89 crore in Q1 June 2016 over Q1 June 2015.

The result was announced during market hours today, 11 August 2016.

Meanwhile, the S&P BSE Sensex was down 2.54 points or 0.01% at 27,772.34.

On BSE, so far 34,000 shares were traded in the counter as against average daily volume of 26,458 shares in the past one quarter. The stock hit a high of Rs 355 and a low of Rs 337.80 so far during the day. The stock had hit a 52-week low of Rs 275 on 2 March 2016. The stock had hit a 52-week high of Rs 420 on 10 November 2015. The stock had outperformed the market over the past one month till 10 August 2016, surging 10.54% compared with 2.39% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 12.98% as against Sensex's 7.77% rise.

The mid-cap company has equity capital of Rs 150.78 crore. Face value per share is Rs 10.

Great Eastern Shipping Company's (GE Shipping) earnings before interest, taxation, depreciation and amortization (EBITDA) including other income fell 7.83% to Rs 526.47 crore in Q1 June 2016 over Q1 June 2015. EBITDA margin improved to 58.96% in Q1 June 2016 from 57.14% in Q1 June 2015.

Great Eastern Shipping Company is into the shipping business.

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