Essar Shipping Ltd Share Price – NSE  / BSE

Shipping, Small Cap

Net profit of Essar Shipping reported to Rs 642.54 crore in the quarter ended September 2024 as against net loss of Rs 35.98 crore during the previous quarter ended September 2023. Sales rose 1155.82% to Rs 147.81 crore in the quarter ended September 2024 as against Rs 11.77 crore during the previous quarter ended September 2023.

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Income from operations was at Rs 147.81 crore in the second quarter of FY25, steeply higher than Rs 11.77 crore reported in same period last year.

Profit before tax was at Rs 65.33 crore in Q2 FY25 as against pre tax loss of Rs 33.59 crore posted in Q2 FY24.

During the quarter, total expenses soared 302.64% YoY to Rs 182.64 crore. Employee benefit expenses stood at Rs 1.99 crore (down 72.51% YoY) while finance cost was at Rs 28.15 crore (up 195.38% YoY) during the quarter.

On standalone basis, the company’s net profit was at Rs 136.21 crore in Q2 FY25, steeply higher than Rs 2.90 crore posted in Q2 FY24. Income from operations was at Rs 5.60 crore in the second quarter of FY25, up 23.07% year on year.

As on 14th November 2024, the company’s market cap stood at Rs 713.45 crore.

Essar Shipping is mainly engaged in fleet operating and chartering activities and operates international and coastal voyages.

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Net profit of Essar Shipping rose 4596.90% to Rs 136.21 crore in the quarter ended September 2024 as against Rs 2.90 crore during the previous quarter ended September 2023. Sales rose 23.08% to Rs 5.60 crore in the quarter ended September 2024 as against Rs 4.55 crore during the previous quarter ended September 2023.

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Essar Shipping will hold a meeting of the Board of Directors of the Company on 13 November 2024

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