Business Daily from THE HINDU group of publications
Thursday, May 21, 2009
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Business Daily from THE HINDU group of publications Thursday, May 21, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate Results
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Shipping/Ports Logistics - Financial Performance Mercator posts 15% rise in net Mumbai, May 20 Long-term contracts have helped Mercator Lines post a 14.9 per cent increase in net profit for 2008-09 despite the collapse in the dry bulk shipping market last year. Net profit for the year ending March 31, 2009 was up at Rs 376.45 crore from Rs 327.65 crore last year. Total income increased by 45.11 per cent to Rs 2,248.82 crore (Rs 1,549.72 crore), said a statement from Mercator. “Despite a weak economic environment and depressed freight rates, Mercator has delive red good results,” said Mr H.K. Mittal, Executive Chairman, in a press release. During the year, the company started its coal mining activities which generated revenue of Rs 77 crore. – Our Bureau More Stories on : Shipping/Ports | Financial Performance
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