Great Eastern Shipping Company Limited (NSE: GESHIP) is one of the leading private sector shipping companies in India. Founded in 1948, the company is headquartered in Mumbai and has a fleet of over 50 vessels, including tankers, bulk carriers, and offshore support vessels. GESCO operates globally, with a presence in the Middle East, South Asia, and Africa.
According to the earnings report, GESCO’s consolidated Net Profit for the quarter was ₹627.2 crore, an increase of 205% compared to the same period in the previous year. The company’s consolidated Revenue from operations for the quarter was ₹1,421.03 crore, a growth of 51% compared to the same quarter in the previous year. This quarter’s earnings per share was ₹43.84.
GESCO operates across different segments of the shipping industry, including crude oil, product and chemical tankers, dry bulk carriers, and offshore vessels. The Shipping segment was the top performer for GESCO during the quarter. The segment’s revenue for the quarter surged by 73% to ₹1,313.22 crore, year on year. The Offshore segment, which includes offshore support vessels and services, also recorded higher revenue during the quarter. The segment’s Revenue for the quarter increased by 19% to ₹216.11 crore from ₹181.58 crore, compared to the same period in the previous year.