Great Eastern Shipping Q4 Net falls 20% to Rs 66.84 crore

Great Eastern Shipping today reported a 20 per cent fall in net profit at Rs 66.84 crore for the quarter ended March 31, mainly due to hike in fuel prices.
The company had posted a net profit of Rs 83.73 crore in the corresponding period of last financial year (2012-13), Great Eastern Shipping said in a stock exchange filing.
The company's total income from operations stood at Rs 798.77 crore for the review period as against Rs 775.28 crore in the same period last fiscal.
The expense on fuel, oil and water during the quarter was Rs 105.19 crore as against Rs 82.60 crore in the previous fiscal (2012-13).

Great Eastern Shipping's net profit for fiscal 2013-14 stood at Rs 537.76 crore, against Rs 573.95 crore in FY'13.
The company 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 serves the oil companies in carrying out offshore exploration and production activities, through its subsidiary Greatship (India) Limited.
Shares of the company closed at Rs 339.25, up 0.80 per cent, on the BSE.