GE Shipping anchored down

about 1 year ago
No Image

GE Shipping is currently the top loser on the BSE today post its numbers for Q3FY20. From its close of Rs.325.80 yesterday, the stock opened lower at Rs.313, going down to an intraday low at Rs.288.

The earnings were actually good – it posted a 11% (YoY) rise in consolidated net profit at Rs.331 crore on a revenue from operations at Rs.1077 crore, up 13%.

EBITDA for the quarter was down 5.5% at Rs.638 crore and margins fell from 65.14% to 54.48%.

The company has 46 ships, with an average age of 11.91yrs. In Q3FY20, the total revenue days rose by one day to 4227 and total owned tonnage fell from 3.90mn.dwt to 3.70 mn.dwt.

Sequentially and YoY, crude carriers, product carriers, LPG carriers showed an increase in average TCS per day; only dry bulk slipped.

Popular Comments

No comment posted for this article.