Great Eastern Shipping posts loss in Q4 hit by forex transactions

Our Bureau Mumbai | Updated on May 30, 2020 Published on May 30, 2020

The Great Eastern Shipping Co Ltd, India’s biggest private ocean carrier, reported a loss of ₹50.68 crore for the January-March quarter against a net profit of ₹148.47 crore in the corresponding period a year ago.

The fourth quarter earnings were hit by a ₹240.80 crore loss on foreign exchange derivative contracts.

The Mumbai-based firm, which runs a fleet of 69 ships, said its revenue from operations rose to ₹1,009.25 crore during the fourth quarter of FY20 from₹974.42 crore in the year ago period.

For the full year FY20, Great Eastern posted a net profit of ₹207.14 crore from a loss of ₹21.45 crore a year earlier.

The firm’s full-year revenue rose to Rs3,686.73 crore from ₹3,547.11 crore a year ago.

The company has proposed a final dividend of ₹2.70 per share (total dividend of ₹8.10 per share for FY20).

Published on May 30, 2020
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