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Varun Shipping reports net loss of Rs 13.98 crore in Q1

07 Feb 2013 Evaluate

Varun Shipping Company has reported results for first quarter ended December 31, 2012.

The company has reported a net loss of Rs 13.98 crore for the quarter as compared to a net profit of Rs 82.50 crore for the same quarter in the previous year. Total income of the company has declined by 28.70% at Rs 56.30 crore for quarter under review as compared to Rs 78.96 crore for the quarter ended December 31, 2011.

Varun Shipping is the leading Indian private sector shipping company that owns and operates vessels in the hydrocarbon sector. The company has a well diversified fleet due to which it offers a comprehensive transportation and support solutions, thus making it a global player in energy transportation and offshore exploration and production (E and P) support services.

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