Great Eastern Shipping net profit up 282 % at Rs721.94 cr for Jan-Mar quarter

MUMBAI : The Great Eastern Shipping Co Ltd, India’s biggest private ocean carrier by fleet size and revenues, said its January-March 2023 net profit soared 282 percent to Rs 721.94 crore from Rs 188.97 crore a year earlier.

The company’s revenue from operations during the fourth quarter of FY23 grew 58.92 percent to Rs 1,455.98 crore from Rs 916.17 crore a year ago, the company said in a regulatory filing.

For FY23, the overall net profit of the company jumped 308.94 percent to Rs 2,575.01 crore from Rs 629.68 crores a year earlier.

Revenue from operations for the full year grew 62.17 percent to Rs 5,690.46 crore from Rs 3,508.94 crore a year ago.

The board of directors at a meeting on Friday declared an interim dividend, the fourth for the year, of Rs9 per share, translating into an outgo of Rs 128.49 crore.

With this, the total dividend declared for the year aggregates to Rs 28.80 per share, resulting in an outgo of Rs 411.16 crore.

The board decided there will be no final dividend for the year ended March 2023.