GE Shipping reports Rs 245 crore loss in Apr-Jun quarter

NEW DELHI: Great Eastern Shipping Company (GE Shipping) today reported a consolidated net loss of Rs 245.08 crore during the quarter ended June 30, 2018.

The company had posted a net profit of Rs 103.56 crore during the same period a year ago, it said in a BSE filing.

Total income of the company during the said quarter grew to Rs 876.44 crore compared to Rs 777.16 crore in the year-ago period.

During April-June 2018, its expenses were Rs 1,111.47 crore as against Rs 635.51 crore during the same quarter previous fiscal.

G E Shipping is the country's leading private sector shipping service provider with presence in the international maritime industry. It operates under two main businesses – dry bulk carriers and tankers.

Shares of the company today ended 2.07 per cent up at Rs 327.45 apiece on BSE.

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