Net profit for the quarter ended 31 December 2015 was recorded at INR2.75bn ($40.64m), a jump of 51.1% compared to INR1.82bn seen in the same period of the previous financial year.
Third quarter revenue rose by 5.4% year-on-year to INR9.95bn, aided by higher time-charter rates for its crude carriers but partially offset by lower contributions from the dry bulk vessels.
GE Shipping shared that its fleet of eight crude tankers commanded time-charter rates of $30,767 per day during the third quarter, up from $19,237 in the previous corresponding period.
Rates for its nine dry bulk carriers, however, fell to $6,320 per day from $10,772 in the year-ago period.
GE Shipping and its subsidiaries also operate a fleet of 13 product carriers and 21 OSVs including PSVs and AHTS vessels.
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