Essar Ports Q3 net doubles at Rs 90.42 cr

Essar Ports' consolidated net profit more than doubled to Rs 90.42 crore in the third quarter of the current fiscal on higher income.

The company had clocked Rs 44.98 crore net profit during the October-December quarter of the last fiscal, it said in a BSE filing on Thursday.

Income from operations grew to Rs 365.97 crore, from Rs 271.98 crore during the October-December quarter of the last fiscal.

While port and terminal services contributed Rs 335.35 crore to the income kitty, fleet operating and chartering segment contributed Rs 17.43 crore during the quarter.

Essar Ports' total operating expenses stood at Rs 131.60 crore from Rs 113.47 crore a year ago. The finance cost and expenses on tax were also higher at Rs 126.44 crore and Rs 17.62 crore respectively.

The company scrip settled at Rs 93.50, down 0.85 per cent on the BSE, over the previous closing.

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