India: Mercator Lines Limited Reports 2011 Half Year Results

Mercator Lines Limited announced its financial results for half year ended 30th Sept 2011 (FY12).The total consolidated income for HI FY12 was Rs. 1,584 Cr. against Rs. 1,268 Cr. for the HI FY11 ended on 30th Sept 2010 recording an increase of 25% on YOY basis.

The consolidated Net Profit was Rs. 21.4 Cr.

Dredging:

Backed by good order book . TCY for dredging division improved by 37% from Ql to Q2 in FY12.

To meet the increased capacity requirements of dredging division, Mercator has recently added a Cutter Suction Dredger and a TSH Dredger.

About the Company

Mercator Lines Limited has global presence through its subsidiaries. The group has diversified interests in Shipping (Tankers & Bulk Carriers),Dredgers, Offshore (Oil& Gas and E&P), Coal Mining & Procurement and Logistics. Mercator Group owns or operates a fleet of 18 dry carriers; 8 tankers and 6 dredgers in addition to 1 MOPU and 1 FSO. The Group also owns Coal mining concessions in Indonesia & Mozambique and has right to explore, develop and produce Oil and Gas from two onshore oil blocks in the Cambay basin in Gujarat under NELP VII.

More info: Mercator

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Dredging Today Staff, November 16, 2011; Image: mercator