Essar Shipping hits the roof on reporting turnaround Q2 numbers

Essar Shipping hit an upper circuit of 5% at Rs 34.47 after the company reported consolidated net profit of Rs 642.54 crore in Q2 FY25 as against net loss of Rs 35.91 crore posted in Q2 FY24.

Income from operations was at Rs 147.81 crore in the second quarter of FY25, steeply higher than Rs 11.77 crore reported in same period last year.

Profit before tax was at Rs 65.33 crore in Q2 FY25 as against pre tax loss of Rs 33.59 crore posted in Q2 FY24.

During the quarter, total expenses soared 302.64% YoY to Rs 182.64 crore. Employee benefit expenses stood at Rs 1.99 crore (down 72.51% YoY) while finance cost was at Rs 28.15 crore (up 195.38% YoY) during the quarter.

On standalone basis, the companys net profit was at Rs 136.21 crore in Q2 FY25, steeply higher than Rs 2.90 crore posted in Q2 FY24. Income from operations was at Rs 5.60 crore in the second quarter of FY25, up 23.07% year on year.

As on 14th November 2024, the companys market cap stood at Rs 713.45 crore.

Essar Shipping is mainly engaged in fleet operating and chartering activities and operates international and coastal voyages.

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