Financial Daily from THE HINDU group of publications
Sunday, May 16, 2004
Financial Daily from THE HINDU group of publications Sunday, May 16, 2004 |
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Corporate Results
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Shipping Logistics - Shipping Mercator Lines to pay 50 pc Our Bureau
Mumbai , May 15 THE board of directors of Mercator Lines Ltd, which operates in the liquid bulk segment, has announced a dividend of 50 per cent for the fiscal 2003-04. Following a series of tanker acquisitions, the company has clocked an income of Rs 242.24 crore during the last fiscal, against Rs 61.21 crore in the previous fiscal. The net profit of the company has shown a handsome increase from Rs 5.46 crore in 2002-03 to Rs 50.09 crore in the last fiscal. Recently, the company has concluded a memorandum of agreement to acquire a 1993-built VLCC (very large crude carrier) of 2.87 lakh dwt, which is expected to join the company's fleet in July .
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