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Sunday, January 12, 2014
Essar Ports Q2 profit rises 20%
MUMBAI, OCT. 31: Essar Ports posted a 20 per cent increase in its second quarter consolidated net profit, as the company earned more income from its operations.
In the July to September quarter, the Essar group company posted a profit of Rs 97 crore, against a net profit of Rs 81 crore a year ago.
The Mumbai-based company earned Rs 383 crore (Rs 344 crore a year ago) from its mainstay port and terminal services.
The company said it handled 13.01 million tonnes of cargo during the quarter, up from 12.70 million tonnes during the year-ago quarter.
Rajiv Agarwal, Managing Director, Essar Ports, said, “We will further strengthen our performance once we execute the projects in hand and third party terminals at Paradip and Vizag.”