Essar Ports has registered an increase by 31% in its net profit in Q2. In July to September quarter, Mumbai-based the Essar Group company achieved a net profit of INR 80.53 crore as against INR 40. 84 crore of Q2 of the previous year. The revenue also has registered a growth of 25% to nearly INR 348 crore . The company earns most of its revenue from the other Essar group companies, Essar Oil and Essar Steel. As of now, Essar Ports has only 4% revenue from its third party customers and it has plans to raise it to 25% in a span of about three years by 2015. Mr. Rajiv Agarwal, Managing Director and Chief Executive Officer said: “The construction of Paradip port for export of iron ore is almost complete. We will do the trail runs in about two weeks”.
Wednesday, 17 October 2012
Essar Ports Q2 net profit almost doubled
Essar Ports has registered an increase by 31% in its net profit in Q2. In July to September quarter, Mumbai-based the Essar Group company achieved a net profit of INR 80.53 crore as against INR 40. 84 crore of Q2 of the previous year. The revenue also has registered a growth of 25% to nearly INR 348 crore . The company earns most of its revenue from the other Essar group companies, Essar Oil and Essar Steel. As of now, Essar Ports has only 4% revenue from its third party customers and it has plans to raise it to 25% in a span of about three years by 2015. Mr. Rajiv Agarwal, Managing Director and Chief Executive Officer said: “The construction of Paradip port for export of iron ore is almost complete. We will do the trail runs in about two weeks”.
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