Mercator FY12 income up 31%, FY12 PBT at Rs 52 cr

For the year ended 31st March, 2012, Mercator Limited (formerly Mercator Lines Ltd.), posted a Consolidated Income of Rs. 3699 crore (Rs. 2829 crore), a 31% increase over the previous year. The Consolidated Profit before Tax for the year stood at Rs. 52 crore.

Coal sales contributed 62% (49%), Oil & Gas 5% (5%), Dry Bulk 20% (27%), Tankers 8% (16%) and Dredgers 4% (3%) of total income. Coal volumes are expected to improve further, with commercial operations at the recently acquired coal mine in Indonesia scheduled for Q1 of FY13.

During the year, the Group successfully completed the customized Floating Production Unit (FPU) in Nigeria. It has a contract for operating the FPU for 9 years.

The Group, in consortium with a third party, was awarded an EPC project by ONGC for conversion of a Mobile Offshore Drilling unit into a Processing Unit and the execution is progressing well. The Group also acquired a coal mine in Indonesia during the year.