The Great Eastern Shipping Company (GE Shipping) today reported widening of net loss to Rs 418.18 crore during the quarter ended March 31.
The company had posted a net loss of Rs 34.16 crore in the year-ago period, GE Shipping said in a BSE filing.
The company's total income during January-March, 2017-18 also fell to Rs 815.24 crore from Rs 873.23 crore earlier, it said.
Its expenses during the said period increased to Rs 1,074.31 crore as against Rs 883.82 crore in the March quarter, 2016-17, it added.
In a separate filing, the company said its board has approved raising up to Rs 1,000 crore through issuance of non-convertible debentures.
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"The board has considered and approved the issue of non-convertible debentures up to an amount not exceeding Rs 1,000 crore by way of private placement during the year," it said.
G E Shipping is the country's leading private sector shipping service provider with presence in the international maritime industry. It operates under two main businesses - dry bulk carriers and tankers.
Stock of GE Shipping closed at Rs 347.20, down 2.02 per cent on BSE.
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