Great Eastern Shipping Q3FY26 Profit Jumps 36.9% to ₹812 Crore

30 Jan 2026 , 11:32 AM

Great Eastern Shipping Company Ltd reported a strong financial performance for the third quarter of FY26. Net profit rose 36.9% year on year to ₹812 crore, compared with ₹593 crore in the same period last year. Revenue for the quarter increased 17.6% year on year to ₹1,454 crore, while earnings before interest, tax, depreciation and amortisation grew 36.7% to ₹835.2 crore from ₹611 crore a year earlier.

Operating margin expanded to 57.4% during the quarter, compared with 49.4% in the year ago period, supported by firm freight rates and operating leverage. The company’s board declared a third interim dividend of ₹9 per equity share for FY26, with the record date fixed as February 4, 2026. The dividend will be paid on or after February 24, 2026.

Global crude tanker markets remained firm during the quarter. Dirty trade volumes increased 7% year on year in Q3 FY26, supported by an 11% rise in Middle East Gulf exports following the unwinding of OPEC plus production cuts. South American exports rose 22%, led by Brazil and Guyana, while China absorbed a large share of incremental volumes, with imports rising 10% year on year.

The global crude tanker fleet expanded by only 1% year on year, though around 35 LR2 tankers shifted to dirty trade during the quarter. Congestion for very large crude carriers built up at Chinese ports, while Russian crude cargoes struggled to find end markets, leading to floating storage.

In the dry bulk segment, iron ore trade increased 10% year on year as China continued to stockpile Brazilian and Australian supply. Grain trade rose 7%, while coal trade declined 1% amid subdued demand from China and India. Minor bulk trade remained firm, supported by a 13% increase in bauxite trade.

Bulk carrier asset prices firmed by 3% to 5% during the quarter, with the dry bulk order book standing at around 12.5% of the global fleet. In the product tanker segment, seaborne trade declined 1% year on year, though longer haul routes supported market conditions. Tanker asset prices rose 5% to 10% quarter on quarter across vessel types.

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