Monday, May 5, 2008

GE Shipping decent Q4 show

Great Eastern Shipping Company gained 1.83% to Rs 446 at 9:56 IST on BSE after posting 24.3% rise in net profit to Rs 299.41 crore on 35.8% growth in net sales to Rs 737.98 crore in Q4 March 2008 over Q4 March 2007.

The stock hit a high of Rs 448.90 and a low of Rs 442 so far during the day. The stock had a 52-week high of Rs 572 on 31 December 2007 and a 52-week low of Rs 248.25 on 22 May 2007.

The company’s current equity is Rs 152.27 crore. Face value per share is Rs 10.

The current price of Rs 446 discounts its Q4 March 2008 annualised EPS of Rs 78.65, by a PE multiple of 5.67.

Great Eastern Shipping Company’s net profit rose 53.61% to Rs 1356.81 crore on 42.31% rise in total income to Rs 3203.51 crore in the year ended March 2008 (FY 2008) over the year ended March 2007 (FY 2007).

On 18 March 2008, Great Eastern Shipping Company contracted to sell its dry bulk carrier Jag Vikas.

In January 2008, Great Eastern Shipping Company signed a contract to sell Jag Akshay, a Panamax dry bulk carrier.

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 services to the oil companies in carrying out offshore exploration and production activities, through its wholly owned subsidiary Greatship (India).

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