Essar Shipping net up 191%

BS 200 SCORECARD

Essar Shipping has posted a 191 per cent growth in net profit for the fourth quarter ended March 31, 2005, at Rs 120.12 crore compared with Rs 41.33 crore in the corresponding period of the previous year. Total income went down to 232.76 crore (Rs 247.21 crore).

EBIDTA grew 39 per cent to Rs 129.58 crore (Rs 92.90 crore). Finance cost for the quarter stood at Rs 22.65 crore (Rs 15.55 crore), and depreciation was at Rs 18.06 crore (Rs 16.16 crore).

Consolidated net profit for the year ended March 31, 2005, stood Rs 460.58 crore, up 196 per cent over the previous year's Rs 155.78 crore. Consolidated income rose 50.77 per cent to Rs 1112.54 crore (Rs 737.89 crore). EBIDTA rose 113.89 per cent to Rs 686.79 crore (Rs 321.09 crore).

Shashi Ruia, chairman, said: "This is the best performance by the company in its history and comes on the back of consistent good performance. Essar is well placed to consolidate its position of market leadership in the industry."

The annualised earnings per share (EPS)stood at Rs 15.26 on March 31, 2005 against Rs 5.16 as on March 31, 2004.