Great Eastern Shipping Q4 Net up at Rs 137 crore

Great Eastern Shipping Company Ltd today reported a two-fold rise in consolidated net profit at Rs 136.97 crore for the quarter ended March 31, 2015.
The company's net profit in the corresponding quarter a year ago was Rs 66.84 crore, it said in a regulatory filing.
The consolidated total income from operations of the company increased to Rs 884.24 crore, over Rs 798.77 crore in the corresponding quarter of FY14, it said.
The consolidated net profit for the year ended March 31, 2015 increased to Rs 748.24 crore, over Rs 573.95 crore in 2013-14, it said.
Total income from operations of the company rose to Rs 3,438.03 crore over Rs 3,091.86 crore in FY14, it added.

During the quarter ended March 31, the company said, it sold a very large gas carrier -- Jag Vidhi -- and a capesize dry bulk carrier -- Jag Arjun.

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.
In a separate regulatory filing, the company's board recommended final dividend of Rs 7 per equity share for FY15.