The Mumbai-listed company's shipping division reported a profit before tax and interest of INR626.6m ($10m) in the quarter ended 30 September 2013, as against a loss of INR403.7m in the previous corresponding period.
The average time charter rates for its fleet of 13 product carriers and one gas carrier turned in earnings of $14,429 per day during the second quarter of financial year 2014, up 13% from the same period of the last financial year.
Its fleet of eight crude carriers, however, saw charter earnings dropped 23% year-on-year to $14,142 per day, while its eight dry bulk carriers took 17% less at $9,745 daily.
In the second quarter, GE posted a group profit before tax of INR1.9bn, almost doubling from a gain of INR973.8m in the same period of its last financial year.
Revenue for the group rose 21.2% year-on-year to INR8.39bn.
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