GE Shipping Q4FY22 PAT up 285.6% to Rs188.97 crore yoy on higher sales and lower impairments

8 May 2022 , 11:58 PM

Great Eastern Shipping reported 23.82% growth in sales revenues yoy for the Q4FY22 quarter on consolidated basis at Rs916.17 crore. On a sequential basis, revenues were lower for the quarter by -2.39%.

For the full year FY22, the revenues were higher by 5.2% at Rs3,509 crore. GE Shipping saw smart revenue growth in the shipping and the offshore business, while it was the shipping business that contributed to most of the operating profits growth in the quarter.

Board declared final dividend of Rs5.40 per share taking the total dividend for the full year to Rs9.90 per share and that is subject to board approval.

The consolidated net profit for Q4FY22 was up 285.75% at Rs188.97 crore while it was down on a sequential basis by -7.95%. The operating profit thrust came entirely from the shipping business revival in the latest quarter.

On a yoy basis, the operating margins improved from 37.78% to 42.14%. While interest coverage ratio has been flat, there is a sharp improvement in the debt service coverage ratio.

Net margins stood at 20.63% in Q4FY22 quarter compared to 6.62% in Q4FY21. NPM was lower sequentially against 21.87% in Q3FY22.

Financial highlights for Mar-22 compared yoy and sequentially

	GE Shipping
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 916.17	₹ 739.95	23.82%	₹ 938.58	-2.39%
Net Profit (Rs cr)	₹ 188.97	₹ 49.01	285.57%	₹ 205.29	-7.95%
Diluted EPS (Rs)	₹ 13.01	₹ 3.33		₹ 13.94
Net Margins	20.63%	6.62%		21.87%