Shreyas Shipping zooms 20% on robust Q1 results

The company reported profit of Rs 20.46 crore in Q1FY18 against Rs 4.87 crore in year ago quarter.

Cyber threats prompt return of radios for ship navigation

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Ships lack a back-up navigation system and if their GPS ceases to function, they risk running aground or colliding with other vessels. Photo: iSTOCK

SI Reporter Mumbai

Last Updated : Aug 16 2017 | 10:19 AM IST

Shreyas Shipping & Logistics is locked in upper circuit of 20% at Rs 364 on BSE with no sellers seen on the counter, after it reported a more than four-fold jump in net profit at Rs 20.46 crore in June quarter (Q1FY18). The company had logged profit of Rs 4.87 crore in the same quarter of last fiscal year.

Operational revenues during the quarter under review increased 39% to Rs 118 crore from Rs 85 crore in the corresponding quarter of previous fiscal. Earnings before interest, taxation, depreciation and amortisation (EBITDA) margin improved to 24% in Q1FY18 from 14%

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