Essar Shipping has posted 43% increase in profit after tax for the quarter ended December 31, at Rs 48.6 crore, against Rs 33.9 crore in the same quarter last year. The revenue increased by 11% to Rs 729.2 crore during the October-December quarter, 2011-12, as against Rs 658.8 crore in the year ago period.
Sea transportation business contributed Rs 317.4 crore to the topline, oilfields services - Rs 143.9 crore and logistics business - Rs 283.9 crore during the quarter under review.
Essar Shipping, which has a fleet of 25 vessels and has on order 10 new ships, generates main share of the sea transportation business by ferrying dry cargo. New ships are expected to join the fleet over the next 18 months.
