Net profit for the quarter ended 31 March 2012 came up to INR549.8m ($10.1m) as against a net loss of INR6.7m in the same period of last year.
Revenue improved by 24% year-on-year to INR8.45bn.
“This quarter has shown a strong performance based on our strategy of deploying the vessels on long term charters, together with the drilling business contributing significantly to the financial performance of the company,” said A R Ramakrishnan, managing director of Essar Shipping.
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