Essar Shipping has reported results for first quarter ended June 30, 2012.
On standalone basis, the company has reported a fall of 81.24% in its net profit at Rs 6.22 crore for the quarter, as compared to Rs 33.16 crore for the same quarter in the previous year. However, total income of the company has increased by 43.91% to Rs 421.09 crore for the quarter under review as compared to Rs 292.61 crore for the quarter ended June 30, 2011.
On Consolidated basis, the company has reported a rise of 186.24% in its net profit at Rs 53.90 crore for the quarter, as compared to Rs 18.83 crore for the same quarter in the previous year. Total income of the company has increased by 38.51% to Rs 915.84 crore for the quarter under review as compared to Rs 661.20 crore for the quarter ended June 30, 2011.
Essar Shipping has an enviable track record of accident free/pollution free transportation. The company, through its operating track record of over 30 years has significant expertise in sea transportation and supply chain management services to steel industry, cement industry, refining industry, fertilizer industry and electricity generating companies.
