The company had clocked Rs 18.83 crore net profit in the same quarter last fiscal, it said in a statement.
Essar Shipping's revenue went up by 38% during the April-June quarter to Rs 925.18 crore as against Rs 670.31 crore during the same quarter last fiscal.
The company, which has a diversified fleet of 25 vessels, generated Rs 458.63 crore revenue from the sea transportation business.
"The company has maintained performance despite challenging market conditions. While the sea transportation business will leverage on long-term contracts, the oilfields services business is gearing itself to benefit from the firm market conditions," company Managing Director A R Ramakrishnan said.