Great Eastern Shipping Company(GE Shipping) today reported a 50.88% increase in net profit at Rs 235.48 crore for the second quarter ended September 2006 as compared to Rs 156.07 crore in Q2FY06.According to the GE Shipping release to the BSE, total income grew by 25.90% at Rs 593.2 crore as against Rs 471.14 crore in Q2FY06.