​Shares of Great Eastern Shipping Co. surged to 9 month highs

Great Eastern Shipping Co., India's premier waterways transporter, surged to 9 month highs after quarterly earnings beat expectations.

GE Shipping said its first quarter net profit rose 44 percent to 323.7 crore rupees compared with 223 crore rupees in the same quarter a year ago. Sales during April-June rose 17 percent to 947 crores versus 808.2 crores. GE Shipping's finance costs fell to 69.9 crore rupees compared with 75.3 crore rupees earlier.

GE Shipping jumped 26.30 rupees, or 6.9 percent, to 407 rupees, its highest since December 10th on the National Stock Exchange where 5.6 lakh shares shares changed hands by 2 pm compared with a 5-day average of 1.04 lakh shares.

GE Shipping's market capitalisation has inched up 4 percent in one year to 5,707 crore rupees.

Image credit: Indiatimes