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What is the story about?
Shares of Great Eastern Shipping Company Ltd. surged 10.6% on Friday, May 15, hitting a new 52-week high of ₹1,642.70, after the company reported a nearly three-fold jump in the March quarter profit, aided by strong shipping performance, vessel sale gains and forex gains.
Net profit for Q4FY26 rose 188% year-on-year to ₹1,044 crore from ₹363 crore in the corresponding quarter last year. On a sequential basis, profit increased 29% from ₹812.5 crore in Q3FY26.
The sharp rise in profit was a result of a combination of profits from the sale of vessels and forex gains. The company's shipping business also did well, growing 46.7% year-on-year to ₹1,469 crore, including other income.
Also read: Five stocks seeing the biggest fall after their Q4 results on Friday
Profit from the segment surged 235% to ₹940 crore, while margin expanded to 64% from 28% a year ago.
GE Shipping's revenue rose 23.6% year-on-year to ₹1,511 crore from ₹1,223 crore a year ago, while Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) jumped 87.7% to ₹941.4 crore from ₹501.6 crore in the year-ago quarter.
EBITDA margin expanded sharply to 62% from 41% a year ago and 57% in the December quarter, primarily aided by forex gains and a low base.
The shipping company's offshore business reported revenue growth of 5.6% year-on-year to ₹401 crore, while profit increased 26.3% to ₹104 crore.
Profit from the sale of assets rose sharply to ₹281 crore during the quarter from ₹27.6 crore a year ago and ₹159 crore in the December quarter.
On a sequential basis, total revenue rose 4%, while EBITDA increased 13%.
Shares of the company surged 10.6% on Friday, hitting the 52-week high of ₹1,642.70, but have since pared some of the gains and were trading 5.71% up at ₹1,569.70.
The stock has gained 12% in the last month, close to 41% year-to-date and nearly 73% over the last 12 months. It currently stands about 75% above its 52-week low, recorded on May 14, 2025.
Net profit for Q4FY26 rose 188% year-on-year to ₹1,044 crore from ₹363 crore in the corresponding quarter last year. On a sequential basis, profit increased 29% from ₹812.5 crore in Q3FY26.
The sharp rise in profit was a result of a combination of profits from the sale of vessels and forex gains. The company's shipping business also did well, growing 46.7% year-on-year to ₹1,469 crore, including other income.
Also read: Five stocks seeing the biggest fall after their Q4 results on Friday
Profit from the segment surged 235% to ₹940 crore, while margin expanded to 64% from 28% a year ago.
GE Shipping's revenue rose 23.6% year-on-year to ₹1,511 crore from ₹1,223 crore a year ago, while Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) jumped 87.7% to ₹941.4 crore from ₹501.6 crore in the year-ago quarter.
EBITDA margin expanded sharply to 62% from 41% a year ago and 57% in the December quarter, primarily aided by forex gains and a low base.
The shipping company's offshore business reported revenue growth of 5.6% year-on-year to ₹401 crore, while profit increased 26.3% to ₹104 crore.
Profit from the sale of assets rose sharply to ₹281 crore during the quarter from ₹27.6 crore a year ago and ₹159 crore in the December quarter.
On a sequential basis, total revenue rose 4%, while EBITDA increased 13%.
Shares of the company surged 10.6% on Friday, hitting the 52-week high of ₹1,642.70, but have since pared some of the gains and were trading 5.71% up at ₹1,569.70.
The stock has gained 12% in the last month, close to 41% year-to-date and nearly 73% over the last 12 months. It currently stands about 75% above its 52-week low, recorded on May 14, 2025.
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