The Great Eastern Shipping Company Ltd. reported a 2.6-fold jump in consolidated net profit for the quarter ended June 30, driven by strong freight earnings and higher operating income across its shipping and offshore businesses.
Consolidated net profit rose to Rs 1,309 crore in the June quarter from Rs 505 crore a year earlier, while revenue from operations increased 66.9% to Rs 2,005 crore from Rs 1,201 crore, according to the company's stock exchange filing.
Operating performance strengthened during the quarter, with EBITDA rising to Rs 1,338 crore from Rs 642 crore a year ago. The EBITDA margin expanded to 66.7% from 53.5%, reflecting improved profitability.
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The board declared an interim dividend of Rs 14.40 per equity share for FY27. August 7, 2026, has been fixed as the record date to determine shareholders eligible for the payout, while the dividend will be paid on or after August 27, 2026, the company said.
Segment-wise, the shipping business remained the key earnings driver, with segment profit rising to Rs 1,155 crore from Rs 379 crore a year ago. The offshore business contributed Rs 153 crore, compared with Rs 126 crore in the corresponding quarter last year.
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During the quarter, Great Eastern Shipping continued to refresh its fleet. It sold two medium-range tankers and contracted the sale of another LR2 tanker, while taking delivery of a 2014-built Kamsarmax dry bulk carrier and a 2014-built medium-range tanker. It also contracted to acquire a 2015-built LR2 tanker, which was delivered after the quarter ended.
The company also reported a profit before tax of Rs 1,365 crore, up from Rs 536 crore a year earlier. Earnings per share nearly tripled to Rs 91.68, compared with Rs 35.34 in the year-ago period.
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