INVC,,
Mumbai,,
Mercator Lines Limited, India’s 2nd largest private sector shipping company (in terms of tonnage), announced its Audited financial results for the year ended 31st March 2011(FY2011). The total consolidated income for the FY 2011 was Rs. 2829 Cr. against Rs.1809 Cr. in the previous year ended on 31st March 2010; recording an increase of 52% over previous year. The consolidated Net Profit before exceptional item; minority interest and Tax was Rs. 122 cr. Against Rs.109 Cr. in the previous year recording 11% increase. The consolidated Net profit was Rs. 47 cr. Against Rs. 53 Cr. In the previous year. During the year, Mercator group added 1 Aframax tanker; 2 panamax & 1 kamsarmax dry bulk carriers; 1 MOPU and 1 FSO.
The Dry Bulk segment and tankers segment contributed about 27% and 16% respectively to the total revenues for the year. Dredging division supplemented the revenues by about 3%. Share of Offshore segment in total revenues was at about 5%.
