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Saturday, Apr 30, 2005

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Essar Shipping net zooms

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MUMBAI: Essar Shipping Ltd has reported a 190 per cent jump in net profit during the last quarter of 2004-05 to touch Rs 120.12 crore. Its income during the quarter was Rs 232.76 crore.

For the full year, the company's net profit was Rs 460.58 crore, as against Rs 155.78 crore in the previous fiscal, representing an increase of 195 per cent.

The income during the year was up 50 per cent at Rs 1,112.54 crore (Rs 737.89 crore).

According to Mr. Shashi Ruia, chairman of the company, this was the best performance by the company in its history.

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