The Hindu Business Line : SKS Ship Q1 PBT up 63 pc

SKS Ship Ltd, one of the country's major coastal operators with a fleet of 31 vessels, has reported a 63 per cent increase in its profit before tax (PBT) in the first quarter of the current fiscal to touch Rs 1.89 crore, against Rs 1.16 crore in the corresponding quarter of last fiscal.

During the quarter, the company's income from operations increased by 18 per cent to touch Rs. 7.17 crore (Rs 6.08 crore). According to Mr S. K Shahi, Chairman and Managing Director, the increase in PBT was due to the consolidation of existing contracts with HPCL and IOC for transporting liquid petroleum products and bulk cargo. He pointed out that SKS has become the country's lowest cost carrier for moving iron ore from Ennore Port.

On its expansion plans, he said the company was in the final stages of announcing a global tender for acquisition of 10 container vessels of 3,500-4,000 TEU each during the next 36 months.