The Great Eastern Shipping Co. Ltd., or GE Shipping, said it had signed a contract to sell 'Jag Pradip', a medium range product carrier. The 1996 built vessel of around 45,600dwt will be delivered to the buyers in Q1FY13.
The company's current fleet stands at 34 vessels, comprising 24 tankers (9 crude carriers, 14 product tankers, 1 LPG carrier) and 10 dry bulk carriers (1 Capesize, 3 Kamsarmax, 1 Panamax, 4 Supramax, 1 Handymax) with an average age of 8.9 years aggregating 2.62 million dwt.
The company clocked fiscal year stand-alone net profit of Rs.143.34 crore, down by 46 percent from the Rs.266.46 crore in 2011. Total income from operations totaled Rs.1,709.62 crore, compared with Rs.1,381.84 crore a year-ago, an increase of 24 percent.
On a consolidated basis, its fiscal year net profit amounted to Rs.316.55 crore, down by 32 percent from the Rs.468.70 crore last year. Total income from operations was Rs.2,955.49 crore, compared with Rs.2,451.83 crore, registering a 21 percent growth.
The company's board declared a final dividend of 35 percent or Rs.3.50 per equity share of Rs.10 each for the fiscal year 2012 and the said dividend will be paid on or after August 09.