Business Daily from THE HINDU group of publications
Wednesday, Feb 06, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Feb 06, 2008 ePaper | Mobile/PDA Version |
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Corporate Results
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Shipping Logistics - Financial Performance Essar Shipping Q3 net profit flat Mumbai, Feb. 5 Essar Shipping & Logistics reported a flat growth in net profit at Rs 43.61 crore for the third quarter ended December 31, 2007 (Rs 43.53 crore). The company's total income also dropped by nine per cent at Rs 227.60 crore (Rs 249.8 crore). In a statement, the company said this was due to the difficult situation prevailing in the spot market. However, the company's thrust of efficiency and cost management enabled it to maintain profitability. However, Mr Sanjay Mehta, CEO, Essar Shipping & Logistics Ltd, remained positive on the company's growth prospects and said in the statement that once the re-organisation was put in place, the company would scale newer heights worldwide. Essar Shipping's stocks closed with a gain of 4.98 per cent at Rs 228.65 on Tuesday. - Our Bureau More Stories on : Shipping | Financial Performance
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