Mumbai, January 28, 2025 – The Great Eastern Shipping Company Limited (NSE: GESHIP, BSE: 500620) has announced its Q3 FY25 financial results, reporting a 10.3% year-on-year (YoY) increase in net profit, reaching ₹593.66 crore, supported by strong shipping and offshore business performance. The company also declared an interim dividend of ₹8.10 per share, with a record date of February 3, 2025.
Key Financial Highlights – Q3 FY25 (Consolidated)
| Metric | Q3 FY25 | Q3 FY24 | YoY Change |
|---|---|---|---|
| Revenue from Operations | ₹1,236.87 crore | ₹1,245.13 crore | -0.7% |
| Other Income | ₹263.90 crore | ₹150.82 crore | +74.9% |
| Total Income | ₹1,500.77 crore | ₹1,395.95 crore | +7.5% |
| Net Profit (PAT) | ₹593.66 crore | ₹538.17 crore | +10.3% |
| Earnings Per Share (EPS) | ₹41.58 | ₹37.70 | +10.3% |
| Interim Dividend | ₹8.10 per share | ₹7.20 per share (previous interim dividend) | +12.5% |
- Revenue: ₹4,099.50 crore (up 9.1% YoY).
- Net Profit: ₹1,981.17 crore (up 15.9% YoY).
Dividend & Shareholder Return
- Total Dividend for FY25 (so far): ₹24.30 per share (includes previous interim dividends of ₹9.00 and ₹7.20 per share).
- Record Date for Interim Dividend: February 3, 2025.
- Dividend Payout Date: On or after February 20, 2025.
Segment-Wise Performance
- Shipping Business:
- Revenue: ₹1,197.23 crore (up 3.9% YoY).
- Profit Before Tax (PBT): ₹566.80 crore (up 6.0% YoY).
- Fleet Optimization:
- Sold three vessels in Q3 FY25 (Jag Rani, Jag Lalit, Jag Padma).
- Contracted sale of another vessel (Jag Rishi) for Q4 FY25.
- Offshore Business:
- Revenue: ₹312.06 crore (up 24.5% YoY).
- PBT: ₹26.86 crore (up 705% YoY).
Key Corporate Actions & Appointments
- Appointment of Amitabh Kumar as Independent Director
- Tenure: 5 years (January 28, 2025 – January 27, 2030).
- Background: Former Director General of Shipping, Government of India.
- Expertise: Maritime regulations, port development, and sustainability initiatives.
- Reappointment of Independent Directors
- Shivshankar Menon, T. N. Ninan, and Uday Shankar were recommended for a second 5-year term starting May 6, 2025.
- Early Redemption of Non-Convertible Debentures (NCDs) Worth ₹150 Crore
- The Board has authorized early redemption of 8.05% secured NCDs (ISIN: INE017A07567).
- The move aligns with debt management and capital efficiency strategies.
Management Commentary
K.M. Sheth, Chairman, Great Eastern Shipping, stated:"Our strong financial performance reflects continued resilience in the shipping sector. We remain committed to operational excellence, shareholder returns, and fleet modernization."