Introduction:
Shipping stock experienced a substantial decline in income for Q3 FY24, with a 34.88% drop in total income and a sharp 105.77% decrease in profit after tax. Increased operating expenses and reduced revenue contributed to a significant loss of ₹3.3 cr compared to the previous year’s ₹56 Cr profit.
Share Price movement of Seamec:
On February 12, 2025, Seamec Ltd opened at ₹880.00, reaching a high of ₹880.00 and a low of ₹780.50, down 10.82% from its previous close of ₹893.65. Currently, it is trading at ₹797.00, with a market cap of ₹2,026.37 crore.
Seamec share Q3 Results:
For the quarter ended 31st December 2024, SEAMEC Limited reported a decline in total income by 34.88%, dropping from ₹21,909 crore in December 2023 to ₹13,938 crore in December 2024. This decline was driven by a decrease in revenue from operations, which fell by 30.03%.
Operating expenses for the quarter rose by 7.91%, reaching ₹14,200 crore in December 2024 compared to ₹13,148 crore in the same period last year. Employee benefits expenses also increased by 16.82%, while finance costs rose by 7.72%. However, depreciation expenses saw a significant decrease by 6.59%.
The most significant drop came in profit after tax (PAT), which saw a massive decline of 105.77%, reporting a loss of ₹3.3 crore compared to a profit of ₹56 crore in the previous year. This sharp decline in profitability was primarily due to increased operational costs and reduced income.
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Recent news About Seamec :
Earlier, on February 5, 2025, Seamec entered into an agreement with Safeen Al Behar Limited Company for the charter hire of its vessel, “SEAMEC SWORDFISH.” This strategic partnership aims to enhance the company’s operational capabilities in the maritime sector.
Stock performance of Seamec for Period of 1 week, 6 months and 1 year:
In the past week, the Seamec stock declined by 13.4%. Over the last six months, it faced a significant drop of 40.8%. Additionally, its one-year return fell by 24.9%, indicating a challenging performance period for the stock across various timeframes.
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Shareholding pattern of Seamec:
| All values in % | Dec-24 | Sep-24 | Jun-24 |
| Promoters | 72.31 | 72.31 | 72.31 |
| FII | 3.44 | 4.08 | 3.81 |
| DII | 6.47 | 6.22 | 5.01 |
| Retail & others | 17.79 | 17.39 | 18.87 |
About Seamec:
Seamec Limited is a leading provider of offshore marine services, specializing in the maintenance of oil rigs and platforms. The company offers services such as underwater construction, vessel management, and subsea inspection, contributing significantly to the maritime and energy sectors.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
