Mercator Lines acquires Double hull VLCC

Prior to this, the company had acquired a 2008 built dredger. Its net profit jumped 3 fold to Rs 370 crore supported by growing fleet, buoyant shipping demand and firm freight rates in dry carrier segment.

Its shipping revenue increased 30 per cent to Rs 1455 crore. the company had proposed a dividend of Rs 1.10 per share.