Essar Ports profit doubles
Posts 97% jump in net profit to Rs80.53 cr for Sep quarter from Rs40.84 cr a yr ago
Mumbai: Essar Ports Ltd, a unit of Essar Group, reported a 97% increase in net profit to Rs80.53 crore for the three months ended 30 September from Rs40.84 crore a year ago.
Revenue rose 25% to Rs348.29 crore from Rs279.14 crore in the year-earlier period.
In the second quarter of the fiscal year, Essar Ports saw an increase of 31% in volumes handled to 12.70 million tonne (mt) from 9.73 mt a year ago.
Managing director Rajiv Agarwal said his company was on track to completing its projects. He said commercial operations of an iron ore terminal at Paradip port will be commissioned shortly. Its coal terminal at Salaya port in Guajarat is expected to completed by September next year.
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