The Great Eastern Shipping Company today reported an over two-fold jump in consolidated net profit at Rs 192 crore for the quarter ended December 31, 2012, largely on forex gains and decline in interest costs.

The company had reported a net profit of Rs 87.46 crore in the corresponding quarter of the previous fiscal.

Its total income from operations, however, remained flat at Rs 759 crore during the quarter vis-a-vis Rs 758 crore of the October-December quarter of FY12, it said in a BSE filing.

The leading shipping company reported a nearly 52 per cent rise in its other income as its made a forex gain of Rs 55.75 crore during the quarter.

Moreover, the company also saw a decline of over 25 per cent in its interest costs to Rs 85.58 crore during the quarter.

The company board also recommended an interim dividend of Rs 3 per share.

The outgo on payment of interim dividend will be Rs 53.11 crore including tax, the company said.

(This article was published on February 7, 2013)
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