Great Eastern Shipping Company Q2 Results Live : Great Eastern Shipping Company declared its Q2 results on November 7, 2024, revealing a mixed performance for the quarter. The company’s topline showed a notable increase of 10.2% year-over-year; however, profits took a hit, falling by 3.21% compared to the same period last year.
When analyzing the performance on a quarter-over-quarter basis, the company reported a decline in revenue of 10.2% and a significant drop in profit by 29.11%. These figures indicate a challenging environment for the company in the recent quarter.
The Selling, General & Administrative (SG&A) expenses saw a slight decline of 0.53% from the previous quarter but increased by 7.19% year-over-year. This rise in expenses may have contributed to the overall decrease in profitability.
Operating income also faced setbacks, down by 33.41% quarter-over-quarter while still managing an increase of 8.81% year-over-year, suggesting some operational challenges in the latest quarter.
Earnings Per Share (EPS) for Q2 stood at ₹31.28, reflecting a decrease of 2.18% compared to the same quarter last year. This decline in EPS could raise concerns among investors regarding the company’s profitability.
In terms of market performance, Great Eastern Shipping Company has delivered a modest return of 0.17% over the last week, while showing impressive returns of 33.28% over the past six months and 32.23% year-to-date.
As of now, the company boasts a market capitalization of ₹18,439.81 Crore with a 52-week high of ₹1543.7 and a low of ₹727.5, indicating a volatile trading environment.
On the analyst front, as of November 9, 2024, out of two analysts covering the company, one has given a Buy rating while the other has issued a Strong Buy rating. The consensus recommendation stands at Strong Buy, reflecting positive sentiment among market experts.
Additionally, Great Eastern Shipping Company declared an interim dividend of ₹7.2, with the record date and ex-dividend date set for November 20, 2024. This dividend announcement may provide some reassurance to shareholders amid the mixed quarterly results.
Great Eastern Shipping Company Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 1354.4 | 1508.23 | -10.2% | 1229.02 | +10.2% |
| Selling/ General/ Admin Expenses Total | 239.55 | 240.83 | -0.53% | 223.49 | +7.19% |
| Depreciation/ Amortization | 205.51 | 197.05 | +4.29% | 186.74 | +10.05% |
| Total Operating Expense | 890.45 | 811.46 | +9.73% | 802.64 | +10.94% |
| Operating Income | 463.95 | 696.77 | -33.41% | 426.38 | +8.81% |
| Net Income Before Taxes | 609.75 | 847.97 | -28.09% | 611.93 | -0.36% |
| Net Income | 575.57 | 811.94 | -29.11% | 594.66 | -3.21% |
| Diluted Normalized EPS | 31.28 | 52.22 | -40.1% | 31.98 | -2.18% |
