The Great Eastern Shipping Co Ltd posted a 16.42 per cent rise in net profit at ₹205.29 crore in the October-December quarter from ₹176.33 a year earlier.
The company’s revenue from operations during the third quarter of FY22 grew 24.6 per cent to ₹938.58 crore from ₹753.24 crore a year earlier, India’s biggest private ocean carrier said in a regulatory filing.
The Mumbai-based company said it has established a working group for feasibility study on alternate fuels and fuel optimisation technologies in view of the emission reduction targets of the International Maritime Organisation (IMO).
After the Jan 2020 IMO mandate on switching from 3.50% Sulphur to 0.5%, there has been a drastic reduction of 83.65% of Sulphur Oxide (Sox) emissions by following a mixed strategy of using low sulphur fuel and installation of scrubbers, it added.