Essar Ports Q3 net up 4% at Rs 94 crore
Hyderabad: Essar Ports reported a four per cent increase in its net profit for the third quarter ended December 2013 at Rs 94 crore, as against Rs 90.4 crore in the year-ago period. Its income during the quarter was Rs 398.8 crore, up from Rs 367 crore in the corresponding quarter of last fiscal. In the nine-month period of the current fiscal, its net profit stood at Rs 292.9 crore, up by 22 per cent from the year-ago period (Rs 239.5 crore).
The company, which handled 39.21 million tonnes of cargo during the nine months, has faced some delay in its plans to increase the quantum of third party cargoes. Hardly one per cent of the throughput came from third party contracts, with the remaining cargoes belonging to its group companies such as Essar Oil and Essar Steel.