GE Shipping gains after turnaround Q4 result

Great Eastern Shipping Company gained 1.32% to Rs 355.65 at 10:28 IST on BSE after the company reported consolidated net profit of Rs 52.47 crore in Q4 March 2015 as compared to net loss of Rs 12.74 crore in Q4 March 2014.

The result was announced after market hours yesterday, 7 May 2015.

Meanwhile, the S&P BSE Sensex was up 366.79 points or 1.38% at 26,965.90

On BSE, so far 15,159 shares were traded in the counter as against average daily volume of 15,261 shares in the past quarter.

The stock of shipping firm hit a high of Rs 364 and a low of Rs 354.30 so far during the day. The stock had hit a 52-week high of Rs 467 on 16 September 2014.The stock had hit a 52-week low of Rs 326.75 on 5 February 2015.

The stock had outperformed the market over the past one month till 7 May 2015, falling 0.26% compared with 6.72% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.05% as against Sensex's 7.38% fall.

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

On a consolidated basis, Great Eastern Shipping Company's total income rose 25.6% to Rs 491.88 crore in Q4 March 2015 over Q4 March 2014.

Great Eastern Shipping Company operates in two main businesses viz. shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The company's offshore business services to the oil companies in carrying out offshore exploration and production activities.

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