India: Mercator Posts Results for Period Ended December 2012

Mercator Limited, a diversified Group today announced its unaudited financial results for the nine months ended December 31, 2012.

The total consolidated income for the said period was Rs.2727Cr. against Rs. 2680 Cr. during 9MFY12.The Operating Profit (PBIDT) was Rs. 410cr as compared to Rs. 467cr during 9MFY12. The consolidated net profit after tax and minority interest (before onetime provision) was Rs.25 Cr as compared to a profit of Rs.45 cr in 9MFY12.

A one-time provision Rs.232 cr has been considered in the results towards loss on classification of asset held for sale and towards compensation on early termination of chartered in contracts. The consolidated Net Loss after tax for the 9MFY13 after considering one time provision was Rs.207 Cr.

The segment wise revenue and its contribution to total income were as under:

Dredging

Subsequent to the end of the quarter; the Company was awarded two contracts worth Rs. 210 cr approx. to be executed over a period of three years. All of the dredgers of the Company are fully occupied.

Highlights

Financial Results

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Press Release, February 13, 2013