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Essar Shipping net vaults

Mumbai, July 18: Essar Shipping Ltd has posted a whopping 814 per cent rise in net profit at Rs 30.28 crore for the first quarter ended June 30 this year compared with Rs 3.31 crore in the corresponding period of last financial year.

The company achieved this net profit after providing for the book loss on sale of a vessel and a dry-docking aggregating Rs 25.32 crore.

Total income of the company was Rs 151.64 crore in the reporting quarter compared with Rs 97.02 crore in the corresponding previous quarter, an increase of 56.3 per cent.

Fleet operations and charter revenues have been higher at Rs 122.52 crore compared with Rs 72.28 crore year-on-year.

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