Mercator reports Rs 105 cr loss; gets board's nod to demerge dredging biz

Coal transportation and logistics firm Mercator Ltd today reported a consolidated loss of Rs 105.29 crore for the third quarter ended December 2017.

The company had reported a Rs 30.42-crore profit after tax during the same period a year ago.

Its total income also dropped to Rs 206.90 crore during the reported quarter from Rs 588.76 crore in the year-ago period, the company said in a BSE filing.

In a separate filing, the company said its board has given approval to demerge the company's dredging business.

"Board of directors has approved the de-merger of dredging business into a separate entity," Mercator said.
 

Mercator Dredging Private Limited will be listed as a separate entity as part of the de-merger process, it added.