GE Shipping net profit increases more than threefold to Rs 189 cr in March quarter

GE Shipping net profit increases more than threefold to Rs 189 cr in March quarter

In a separate filing, the company said its board has approved the issue of non-convertible debentures up to an amount not exceeding Rs 1,000 crore by way of private placement during a period of one year.

Great Eastern Shipping (GE Shipping) on Friday revealed a 285.71 percent bounce in consolidated net profit to Rs 189 crore for the quarter ended March. The organization had posted a net profit of Rs 49 crore in the year-prior period, GE Shipping said in a BSE filing. Total revenue during the January-March quarter expanded to Rs 3,669 crore, from Rs 3,568 crore in the year-prior period. The board likewise named Shivshankar Menon, T N Ninan and Uday Shankar as extra and independent directors with effect from May 6, 2022 for a tenure of 3 years.

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