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Saturday, Nov 06, 2004

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SKS Ship Q2 net up at Rs 6 cr

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MUMBAI: SKS Ship Ltd has reported a net profit of Rs 6.8 crore in the second quarter of the current fiscal, against Rs 7.67 lakh in the corresponding quarter of last fiscal.

Commenting on this performance, Mr S.K. Shahi, the company's Chairman, said, "This growth is a direct result of increase in charter rates and overall economic growth favouring a robust climate for all the shipping companies. We are now at the beginning of the growth cycle.

Mr Shahi said the company has got the board of directors' nod for a 5 per cent interim dividend on the expanded capital that would be 10 per cent prior to the bonus issue.

The net sales and income from operations stood at Rs 63 crore, an increase of 26 per cent compared to the income for the second quarter ended 2003-04.

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