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Our Bureau

Mumbai , Oct. 21

ESSAR Shipping Ltd has reported a 46.4 per cent increase in net profit, year-on-year for the second quarter ended September 30.

The company's net profit for the quarter amounted to Rs 30.89 crore; net profit during the same year-ago quarter had been Rs 21.1 crore. Income from operations rose over 70 per cent, to Rs 223 crore (Rs 131 crore).

EBIDTA rose 121.7 per cent, to Rs 118.73 crore, up from Rs 53.55 crore; while EBITDA margin stood at 68.7 per cent (59 per cent).

Net interest costs were much higher, at Rs 67.44 crore than the year-ago figure of Rs 14.56 crore. Cash profit, at Rs 51.29 crore, showed a 31.5 per cent increase over the corresponding year-ago quarter.

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