Essar Shipping Posts Q4 Loss Amid Income Decline

Essar Shipping reported a loss of Rs 53.19 crore during the March 2024 quarter due to reduced income. The company's total income plummeted to Rs 13.43 crore from Rs 27.26 crore in the corresponding period of the previous year. This marks a significant downturn from a Rs 363.44 crore profit last year.

Essar Shipping has reported a loss of Rs 53.19 crore during the March 2024 quarter on lower income.

It had posted Rs 363.44 crore ''profit for the period after share of profit of associate'' in the year-ago period, the company said in a statement on Tuesday.

The company's total income declined to Rs 13.43 crore as against Rs 27.26 crore in the January-March period of FY23.

Part of Essar Group, Essar Shipping has over four decades of experience in owning and operating maritime assets.

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