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Essar Shipping sales rise 33 percent to 
223 Bn
Friday, 20 June 2008, 19:30 IST
New Delhi: Essar Shipping Ports and Logistics posted a turnover of 
223.7 billion ($557.75 million) in 2007-08, reflecting a 33 percent rise in revenues over last year, it said Friday.
Its EBITDA or Earnings Before Interest, Taxes, Depreciation and Amortization went up 107 percent to 7.77 billion ($193.65 million), while net profit rose from 1.58 billion ($36.04 million) to 2.77 billion ($69.17 million).
The results include the nine-month revenue of its subsidiary, Vadinar Oil Terminal Ltd, which stood at 1.4 billion ($35.01 million).
The company has committed investments of over 100 billion ($2.5 billion) over the next three years. This would result in annual contracted revenues of 360 billion ($900 million) for Essar Shipping.
The company will focus on leveraging its investment in the port, logistics, oilfield services and shipping sectors, Essar Shipping managing director Sanjay Mehta said.
Source: IANS
223.7 billion ($557.75 million) in 2007-08, reflecting a 33 percent rise in revenues over last year, it said Friday.
Its EBITDA or Earnings Before Interest, Taxes, Depreciation and Amortization went up 107 percent to 7.77 billion ($193.65 million), while net profit rose from 1.58 billion ($36.04 million) to 2.77 billion ($69.17 million).
The results include the nine-month revenue of its subsidiary, Vadinar Oil Terminal Ltd, which stood at 1.4 billion ($35.01 million).
The company has committed investments of over 100 billion ($2.5 billion) over the next three years. This would result in annual contracted revenues of 360 billion ($900 million) for Essar Shipping.
The company will focus on leveraging its investment in the port, logistics, oilfield services and shipping sectors, Essar Shipping managing director Sanjay Mehta said.
Source: IANS