Essar Shipping Ports & Logistics (ESPLL), an integrated sea logistics company, has posted a net profit of Rs 110.71 crore for the fourth quarter ended March 31, 2008, compared with Rs 38.20 crore recorded during the same quarter a year ago, registering a whopping increase of 189.81 per cent.
Total income for the quarter rose to Rs 312.54 crore as against Rs 209.73 crore last year. For the full year ended March 31, 2008, the company's net profit soared 80.3 per cent to Rs 241.67 crore, compared with Rs 133.98 crore recorded during the same period a year ago. Total income for the 12-month period rose to Rs 1,058.72 crore as against Rs 1039.72 crore recorded during the comparable period of previous financial year, Essar Shipping informed the Bombay Stock Exchange today.
In a release issued here, ESPLL has earmarked a corpus of over Rs 10,000 crore over the next three years. This would result in annual contracted revenues of Rs 3,600 crore for the company.
The growth in India's infrastructure sectors such as power, steel and oil refineries, will require constant movement of raw materials and finished products. This opens up an array of opportunities for the company, it said. ESPLL is an end-to-end logistics provider with wet and dry bulk ports and terminals services, sea and surface transportation services, contract onshore and offshore drilling services. |
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