Essar Shipping Ports & Logistics Limited has announced a 33% rise in its total income for the financial year 2007-08 as compared to the previous financial year. The company has recorded a Total Income of Rs 2,237.13 crores (USD 557.75 million) during 2007-08 as compared to Rs 1,676.11 (USD 382.93 million) crores during the previous financial year.

The EBITDA for the company registered a 107% rise to Rs 776.77 crores (USD 193.65 million) for the financial year 2007-08 as compared to the previous financial year.The Net Profit for ESPLL has also registered a rise from Rs 157.75 crores (USD 36.04 million) during the financial year 2006-07 to Rs 277.43 crores (USD 69.17 million) during the financial 2007-08.The results of ESPLL include the 9-month revenue of its subsidiary Vadinar Oil Terminal Limited which stood at Rs 140.44 crores (USD 35.01 million).

ESPLL has committed investments of over Rs 10,000 crores (USD 2.5 billion) over the next 3 years. This would result in annual contracted revenues of Rs 3,600 crores (USD 900 million) for the company.

Essar Shipping Ports & Logistics Limited has benchmarked itself in becoming a complete end-to-end solutions service provider encompassing the areas of sea transportation, ports & terminals, logistics and oilfield services. Together with creating value for its stakeholders, the move has resulted in disciplined and focused investments aimed at maximizing returns.

The growth in India’s critical infrastructure sectors, like power, steel and oil refineries, will require constant movement of raw materials and finished products. The Company believes that its ports will grow in importance because of capacity constraints at major ports in India.

Demand for oilfield drilling services is also being spurred by increasing E&P expenditure from public and private-sector oil majors and high international crude oil prices. The recent shipping sector outlook showcases robust demand for commodity and consumer goods generated by strong macroeconomic development.

The new ESPLL is strategically positioned and equipped to leverage the opportunities that are being created by a strong demand-driven market.

Speaking on these developments, Mr Sanjay Mehta, Managing Director, Essar Shipping Ports & Logistics Limited mentioned that these were exciting times for the Company as it looked ahead to leverage upon the asset base it has invested in the sectors of ports, logistics, oilfield services and shipping.

Tags: calls, daytrading, free calls, intraday, tips

Similar Posts:

• A K Capital Services total income up by 101% to Rs 26.38cr
• GVKPIL cons total income up at Rs 532.14cr, up by 26%
• Aurobindo records cons total income of Rs 2530cr
• Firstsource reports total income up by 71.6% to Rs 3825 mn
• SDBL’s total income up by 153% to Rs 29 crore