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<in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">2.tExceptional items represent effect of steep foreign exchange fluctuations in recent periods on fair value of the derivative contracts and foreign currency monetary items. In consolidated results, they include effect of unrealised loss on fair valuation of derivative contracts amounting to Rs. 221.44 crores and Rs. 520.54 crores for the quarter and half year ended September 30, 2018, respectively, and unrealised exchange gain amounting to Rs. 16.24 crores and Rs. 29.37 crores for the quarter and half year ended September 30, 2018, respectively.  n   n3.tDuring the quarter under review, the Company undertook the following transactions –  n         -  sold and delivered its Supramax Dry Bulk Carrier named ‘Jag Ratan’ built in 2001.  n         - contracted to buy and took delivery of a secondhand Very Large Gas Carrier built in 2006 renamed as “Jag Vasant”.  n     nSubsequent to the end of the quarter under review, the Company contracted to sell its 2011 built Kamsarmax Dry Bulk Carrier named ‘Jag Arya’ to be delivered in third quarter of the Financial Year 2019.  n  n4.tEffective April 1, 2018, the Company has adopted IND AS 115 'Revenue from contracts with customer'. Based on the assessment done by the management, there is no material impact on the revenue recognition during the quarter and half year ended September 30, 2018.  n  n5.tThe above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on November 02, 2018. The Statutory Auditors of the Company have carried out a Limited Review of the financial results for the quarter and half year ended September 30, 2018.  n  n6.tThe financial results for the quarter and half year ended September 30, 2018, are available on the Bombay Stock Exchange website (URL:www.bseindia.com/corporates), the National Stock Exchange website (URL:www.nseindia.com/corporates) and on the Company website (URL: www.greatship.com/ financial_result.html).  n </in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock>
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