Financial Daily from THE HINDU group of publications
Saturday, Jan 17, 2004
Financial Daily from THE HINDU group of publications Saturday, Jan 17, 2004 |
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Corporate Results
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Shipping Logistics - Shipping Varun Shipping registers 259 pc increase in Q3 Our Bureau
Mumbai , Jan. 16 RIDING on the wave of an unprecedented freight market boom and the positive trend in the major world economies, Varun Shipping has reported a profit after tax of Rs 100.47 million for the third quarter of the current fiscal, as compared to Rs. 27.98 million recorded during the corresponding quarter of the previous year. The company's third quarter profit has thus registered a jump of 259 per cent. The company's income from operations for the quarter also recorded a significant increase to touch the Rs 729.01-million mark, as compared to Rs 536.27 million registered during the corresponding quarter of last fiscal. The company feels that the positive trend in the Asian economies continued to hold out better prospects for world seaborne trade and therefore for the shipping industry.
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