ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Riding the Shipping Boom

Riding the Shipping Boom Kumaran Pola GREAT EASTERN SHIPPING achieved the highest ever turnover and profit during the year ended March 31, 1990. According to the directors, this was possible on account of a larger fleet as well as a very buoyant freight market. The main income of the company showed a 43 per cent increase on annualised basis to Rs 213.10 crore during 1989-90. Due to more than proportionate increases in operating expenses, the growth in operating profit was lower at 27 per cent (annualised) and in net profit at 13 per cent (annualised). The directors state that the profits would have been higher but for the explosion on one of the company's tankers,' Jag Laxmi'. The approximate loss of profit due to the explosion was Rs 2 crore.

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