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Shreyas Shipping standalone PAT zooms 720 % to Rs 19.7 cr for Q2FY18 /

Standalone Profit After Tax(PAT) of Shreyas Shipping and Logistics Ltd(SSL) vroomed 720.8% to Rs 19.7 crore for Second Quarter of Financial Year 2018(Q2FY18) against the standalone PAT of Rs 3.2 crore recorded during Q2FY17(Year-on-Year) period, says a company release on 14th Nov. The standalone income of the company for the current quarter under review jumped 33.7% to Rs 123.5 crore against the standalone income of Rs 92.4 crore registered during year ago quarter.  The standalone Earnings Before Interest Taxation Depreciation Amortisation (EBITDA) surged 258.7% to Rs 26.9 crore vis-à-vis Rs 7.5 crore logged during the Year-on-Year(Y-o-Y) period.

The company has only one operating segment i.e. sea logistics. The exceptional item during the quarter ended 30th June 2017 and quarter ended 31st March 2017 comprises provision on impairment of the vessel “SSL Sagarmala” and loss on sale of the vessel “SSL Trust” respectively. The company had acquired ‘MV SSL-Sabarimalai’ with capacity of 5,894 teus during the quarter ended 30th Sep 2017.

During the quarter

Utilisation levels on all the services from North to South and West to East remained at the level of around 95% and on the reverse leg was around 75% post deployment of increased capacity acquired during the quarter. SSL Sabarimalai was bought during the quarter.  The average bunker rate for the quarter was INR 25,300. The volumes handled in terms of TEUs during the quarter saw an increase of 0.5% Q-o-Q and 40% increase Y-o-Y. Average yield per day for 10 vessels (excluding SSL Sabarimalai) was USD 91,224 per day which was in line with Q1-FY18, as against total charter hire of about USD 68,000 per day. Two new ports namely, Paradip and Hamad were added in services. The company entered into a contract with RINL for complete logistics movement of 225,000 MT of steel cargo from Visakhapatnam to RINL’s depots in Kochi, Ahmadabad and Mumbai.


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