The company had posted a consolidated net profit after tax of Rs 353.5 crore in the corresponding quarter of previous fiscal, Great Eastern Shipping said in a BSE filing.
However, the consolidated total income from operations dropped to Rs 813.7 crore over Rs 1,019 crore in the year-ago period.
The company has two main businesses -- shipping and offshore.
The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities.