India's Great Eastern Shipping has posted a big drop in profit as tanker rates dropped.
The shipowner said net earnings in its second quarter to 30 September were INR 68.6m ($1.05m), down from INR 2.86bn in 2016.
Revenue dipped to INR 8.75bn from INR 9.56bn.
Crude carriers achieved average daily earnings of $15,975 from $23,591, while bulkers made $8,940, against $6,324 a year ago.
