China Shipping Development Co. Ltd, the nation's biggest oil and coal carrier, announced that its net profit of the third quarter surged to RMB 1.54 billion, up 27.52% from a year earlier, thanks to the higher freight rates for domestic bulk cargo, which partly offset the impact of high fuel prices.
The Hong Kong-based company said in its quarterly result that its Jan.-Sep. net profit amounted to RMB 4.73 billion, with earnings per share of RMB 1.398 during the first nine months.
China Shipping Development realized revenue of RMB 14.32 billion for the first three quarters of this year, representing a robust increment of 58.9% year-on-year. Operating costs reached RMB 8.42 billion, up 67.8% compared with the corresponding period of last year.
The Chinese oil and coal carrier raked in RMB 445 million from investment during the nine months, representing a robust growth of 267.2% from a year ago. The company ascribed the favorable figure to the higher profit contributed by its joint ventures.
A-share of China Shipping Development plunged 9.97% to RMB 6.77 on Monday, while its H-share tumbled 13.79% to HK$4.50.
The Hong Kong-based company said in its quarterly result that its Jan.-Sep. net profit amounted to RMB 4.73 billion, with earnings per share of RMB 1.398 during the first nine months.
China Shipping Development realized revenue of RMB 14.32 billion for the first three quarters of this year, representing a robust increment of 58.9% year-on-year. Operating costs reached RMB 8.42 billion, up 67.8% compared with the corresponding period of last year.
The Chinese oil and coal carrier raked in RMB 445 million from investment during the nine months, representing a robust growth of 267.2% from a year ago. The company ascribed the favorable figure to the higher profit contributed by its joint ventures.
A-share of China Shipping Development plunged 9.97% to RMB 6.77 on Monday, while its H-share tumbled 13.79% to HK$4.50.