Shares of Great Eastern Shipping (GE Shipping) were falling on Friday after the company posted a drop in both EBITDA margins and profit after tax in the second quarter.
What Happened: In its earnings report released on Thursday evening, GE Shipping posted a 3% decline in consolidated net profit, amounting to ₹576 crore for Q2 FY25, compared with ₹595 crore in the same period last year.
The company’s EBITDA for the quarter rose 2% to ₹654 crore, up from ₹643 crore a year earlier. However, EBITDA margins contracted by 400 basis points, dropping to 48.3% from 52.3% in the previous year.
Earnings from crude tankers saw seasonal weakness in Q2, as overall seaborne crude trade fell by 3%, influenced by soft refinery…
