Great Eastern Shipping Q4 net profit at Rs 148 cr

India’s largest private shipliner Great Eastern Shipping Company Ltd (GE Shipping) Monday reported a consolidated net profit of Rs 148.47 crore for the fourth quarter of 2018-19.

The company had posted a net loss of Rs 419.10 crore in the year-ago period, GE Shipping said in a BSE filing.

The company’s total income during January-March quarter increased to Rs 1026.99 crore, from Rs 826.42 crore in the same period previous fiscal.

In a separate filing the company said its board has approved plan to raise up to Rs 1,000 crore via issuance of non-convertible debentures on a private placement basis.

“The board has also considered and approved the issue of non-convertible debentures up to an amount not exceeding Rs 1,000 crore by way of private placement during the year,” the filing said.
Source: PTI