Home / Shipping News / International Shipping News / Great Eastern Shipping Q4 turns around to net profit of Rs49cr on derivative contract losses in Mar-20 quarter
Great Eastern Shipping Q4 turns around to net profit of Rs49cr on derivative contract losses in Mar-20 quarter
Great Eastern Shipping reported -26.68% yoy fall in consolidated revenues for the Mar-21 quarter at Rs739.95cr. On a yoy basis, the offshore business was down -20% at Rs166.5cr while the shipping business was also down -25% at Rs640cr.
The shipping business took a hit on account of a sharp fall in shipping volumes and also a major shortage of containers in the last quarter. That resulted in a sharp fall in shipping revenues during the quarter.