Essar Shipping Reports Rs 34.53 Crore Loss in Q1 2024

Aug 08, 2024 20:39

Essar Shipping posted a consolidated loss of Rs 34.53 crore in Q1 FY24, compared to a profit of Rs 26.13 crore in the same period last year. The company's total income from operations also declined.

New Delhi, Aug 8 (PTI) Essar Shipping on Thursday reported a consolidated loss of Rs 34.53 crore in the first quarter ended June 2024.

The company had clocked a profit of Rs 26.13 crore in the corresponding quarter a year ago, the company said in a regulatory filing to the BSE.

Its total income from operations in the June quarter declined to Rs 11.57 crore, against Rs 48.48 crore in the year-ago period.

The firm's total expenses stood at Rs 40.56 crore, compared to Rs 30.47 crore in the year-ago period.
The company said it's current liabilities, including outstanding portion of Foreign Currency Convertible Bonds (FCCB) which have fallen due for redemption, exceed its current assets as on June 30, 2024.

Source: PTI

MORE NEWS

Punjab Invites Korean Firms for Investment

Punjab CM Bhagwant Mann invites Korean firms like Daewoo, GS E&C to invest in Punjab....

Odisha Assembly Passes Appropriation Bill

Odisha assembly passes Rs 17,440 crore appropriation bill for 2025-26. CM Majhi defends...

CTUIL Revokes Grid Access for 6.3 GW RE Projects

CTUIL revoked grid access for 6.3 GW renewable energy projects due to developer delays....

L&T Transfers Realty Business to L&T Realty...

Larsen & Toubro transfers its realty business to L&T Realty Properties Ltd. A phased...

Wakefit IPO Subscribed 15% on Day 1

Wakefit''s Rs 1,289-cr IPO saw 15% subscription on day 1. Retail investors showed...

Apple Fitness+ Launching in 28 New Countries

Apple Fitness+ expands to 28 new countries, including India, on December 15. Enjoy...

MSME Loan Risk: Over-Leveraged Borrowers

Report reveals sharp concentration risk in MSME loan portfolios due to over-leveraged...

Navitas & Cyient: GaN Tech for High-Power India

Navitas Semiconductor and Cyient Semiconductors partner to co-develop gallium nitride...

Abrau-Durso to Produce Wine Beverages in India

Russia''s Abrau-Durso Group plans to produce wine beverages in India with IndoBevs....

GX Group Expands to Latin America with Calculus...

GX Group partners with Calculus Networks to expand broadband business in Latin America....

Essar Shipping Reports Rs 34.53 Crore Loss in Q1 2024

You May Like To Read

MORE NEWS