Seacoast Shipping Services surged 4.40% to Rs 3.56 after the company signed contract with Dubai's Maria Shipping for providing shipping and logistic services in the region.
The contract will be effective from 1 April 2023 for a period of one year and can be renewed further."This new contract marks an important milestone for our company and is a testament to our commitment to providing high-quality services. We are thrilled to be partnering with Maria Shipping Fze, who share our values and vision for Industry and this shall translate to an additional revenue of around Rs 100 crore per annum," the company stated in exchange filing.
Seacoast Shipping Services is engaged in the business of shipping and logistics supplies and agriculture commodities during the year.
The company's net profit during the quarter stood at Rs 4.61 crore, steeply higher from Rs 1.42 crore in corresponding quarter last year. Net sales rose 163.2% year on year to Rs 111.03 crore in Q3 FY23.
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