GE Shipping Q4 net profit at Rs.240.92 crores, recommends Rs.4.50 final dividend

Great Eastern Shipping Company Ltd (GE Shipping) has announced the Audited results for the quarter & year ended March 31, 2007. The results for the Quarter ended March 31, 2007: The Company has posted a net profit of Rs 2409.20 million for the quarter ended March 31, 2007 as compared to Rs 1835.20 million for the quarter ended March 31, 2006. Total Income has increased from Rs 5498.80 million for the quarter ended March 31, 2006 to Rs 5926.70 million for the quarter ended March 31, 2007.

The results for the Year ended March 31, 2007: The Company has posted a net profit of Rs 8833.10 million for the year ended March 31, 2007 as compared to Rs 8386.00 million for the year ended March 31, 2006. Total Income has increased from Rs 23420.80 million for the year ended March 31, 2006 to Rs 22511.10 million for the year ended March 31, 2007.

The consolidated results for the Year ended March 31, 2007: The Group has posted a net profit of Rs 9124.30 million for the year ended March 31, 2007 as compared to Rs 8521.20 million for the year ended March 31, 2006. Total Income has decreased from Rs 24594.10 million for the year ended March 31, 2006 to Rs 24177.30 million for the year ended March 31, 2007.

The Board of Directors of the Company at its meeting held on May 04, 2007, inter alia, has recommended a final dividend @ Rs 4.50/- per share for the year ended March 31, 2007 on 152273924 equity shares of Rs 10/- each. With the interim dividend of Rs 4.00 per share and Rs 3.00 per share declared and paid in October / November 2006 and January / February 2007 the total dividend for the year works out to Rs 11.50/- per share. The final dividend, if approved by the members, will be paid on or after July 24, 2007.

The Register of Members & Share Transfer Books of the Company will remain closed from July 12, 2007 to July 19, 2007 (both days inclusive) for the purpose of payment of final dividend.

Source : Equity Bulls

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