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ESSAR SHIPPING Net Profit increses by 463% for 3QFY2001. Reports Net Profit of Rs. 505.4 million (US$ 10.77 million)for the 9-Month period ended 31st December 2000.

January 30, 2001    
Highlights Financial Results International Focus Industry Scenario Unaudited Financial Results
Highlights
EBITDA of Rs. 1516.2 million (US$ 32.31 million) for the period ended 31st December 2000, an increase of 33% from the corresponding period of the previous year.
70% of the Company’s income has been derived from its international operations.
EBITDA margin of 50%
Cash profit of Rs. 1,058.9 million (US$ 22.56 million), an increase of 59% over that of the corresponding period of the last year.
Net profit of Rs. 505.4 million (US$ 10.77 million) for the 9-month period ending 31st December 2000, as against Rs. 142.0 million (US$ 3.03 million) for the corresponding period last year, an increase of 256%.
Net Profit of Rs. 200.3 million (US$ 4.27 million) for the quarter, as against Rs. 35.6 million (US$ 0.76 million) for the corresponding quarter last year, an increase of 463%.
For the nine-month period ended 31st December 2000, the earnings per share was Rs. 2.57 as against Rs. 0.72 for the corresponding period last year.
Tanker markets continued their upward trend during the quarter, with the World Scale reaching unprecedented heights during the period.
Bulk markets were firm in the same period.
Focus of the Company on increased presence in the energy sector by providing complete sea-logistics transportation solutions in this business.
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