Great Eastern Shipping’s bottom line has halved in Q4FY16

Great Eastern Shipping (GE Shipping) has declared its fourth quarterly results on May 5. The company’s revenue has declined by just 0.85 per cent to Rs 877 crore in Q4FY16 as compared to same period in previous fiscal year. Its EBITDA has decreased by 22.42 per cent to Rs 247 crore in Q4FY16 on a yearly basis. GE Shipping’s EBITDA margin has contracted by 784 basis points to 28.18 per cent in Q4FY16 as compared to previous financial year. The company’s Net Profit has also reduced by more than half to Rs 58.2 crore in Q4FY16 on a yearly basis. Its Net Profit margin stands at 6.64 per cent in Q4FY16 against 15.49 per cent in Q4FY15.

On a yearly basis, GE Shipping’s revenue has increased by 10.66 per cent to Rs 3805 crore in FY16. The company’s EBITDA also has risen by 26.31 per cent to Rs 1835 crore in FY16 as compared to previous financial year. Its EBITDA margin has expanded by 598 basis points to 48.23 per cent in FY16 on a yearly basis. GE Shipping’s bottom line has increased by 38.91 per cent to Rs 1039 crore in FY16 as compared to previous financial year. The company’s Net Profit margin has expanded by 556 basis points to 27.32 per cent in FY16 on a yearly basis.

On segmental revenue front, GE Shipping has earned 55.19 from Shipping segment; and remaining 44.81 per cent from Offshore segment in FY16.

The share price of GE Shipping has declined by 2.26 per cent on bourses in early trades; and is trading at Rs 312 on an intraday basis.

GE Shipping has two main businesses such as shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The shipping business operates under dry bulk carriers and tankers. The offshore business provides services to the oil companies in carrying out offshore exploration and production activities.