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Essar Ports reports 73% rise in Q1 net profit

24 Jul 2012 Evaluate

Essar Ports has reported results for first quarter ended June 30, 2012.

The company has registered a rise of 72.99% in its net profit at Rs 68.52 crore for the quarter under review as compared to Rs 39.61 crore for the same quarter in the previous year. Moreover, the total income from operation of the company has increased by 18.49% at Rs 325.34 crore for Q1FY13 as compared Rs 274.58 crore for the corresponding quarter previous year.

Essar Ports has been involved in liquid and bulk cargo business, but with the central government's ambitious plan to award more than 25 port projects in the current fiscal, the company will now look for tie-ups to venture into the container terminal business as part of its expansion.

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