Mercator Lines’s oil and gas division has successfully commissioned FPU (floating production) unit in Nigeria
Mercator Lines Ltd said that for the half year period ended 30 September 2011 the company’s total income increased 25% to Rs1,584 crore from Rs1,268 crore.
The consolidated net profit for the period stood at Rs21.41 crore against Rs113.22 crore.
During the period, the coal division contributed 58% revenue, while dry bulk contributed 22%, tanker 10%, dredging 5% and offshore division 5%. The coal volumes are expected to further improve in the coming quarters. The recent coal mine acquired in Indonesia would commence commercial operations in the last quarter of FY12.
The oil and gas division has successfully commissioned FPU (floating production) unit in Nigeria and the operations are doing well as per schedule. Exploration activities of two onshore oil blocks in Gujarat are on schedule.
Backed by a good order book, the dredging division is doing well and to meet the increased capacity requirement, Mercator has recently added a cutter suction dredger and a TSH dredger. The oversupply in tonnage in all the segments continued to affect the operations of the Shipping Division and the earnings were further impacted as the bunker rate of heavy fuel oil increased.
In the late afternoon, Mercator Lines was trading at around Rs22.85 per share on the Bombay Stock Exchange, 1.93% down from the previous close.
Arshiya International’s consolidated EBIDTA for Q2FY12 zoomed 102% to Rs67.60 crore against Rs33.39 crore in the corresponding quarter
Arshiya International Ltd, an Indian supply chain and logistics infrastructure solutions company, announced consolidated total revenue of Rs247.96 crore for the quarter-ended September 30, 2011 against Rs195.05 crore in the corresponding period last year; registering an increase of 27%.
Consolidated EBIDTA (earnings before interest, taxes, depreciation and amortisation) for Q2FY12 was Rs67.60 crore against Rs33.39 crore in the corresponding quarter registering a 102% increase mainly due to higher EBITDA from our FTWZ (free trade and warehousing zones) business that started operation since December 2010. Consolidated net profit for the quarter also increased 74% to Rs31.85 crore up from Rs18.29 crore.
Ajay S Mittal–group chairman & managing director of Arshiya International Ltd said “We are extremely happy as Arshiya's first FTWZ in Mumbai has gained further operational momentum and the value optimising services (VOS) revenues have started providing margin impetus as is visible in our quarterly results. We remain focused on our key and core logistics business of freight forwarding that is uniquely integrated with our assets of FTWZ, rail and domestic distriparks, where our FTWZ and rail businesses have begun to garner a higher incremental share of the overall revenues.”
In the late afternoon, Arishya International was trading at around Rs155.20 per share on the Bombay Stock Exchange, 1.18% down from the previous close.
Tata Motors commercial vehicles sales were up by 6% to 43,184 units from the same month last year
Tata Motors said its global sales increased by 10% in October to 95,789 units over the same period last year. Sales of luxury brands from Jaguar Land Rover were at 26,158 units during October, up 39% from the same month last year, Tata Motors said in a statement.
While sales of luxury sedans of Jaguar brand increased by 63% last month at 5,231 units, Land Rover sales were higher by 34% at 20,927 units, it added. It said total passenger vehicles sales stood at 52,605 units in October 2011, a jump of 14% from the same month last year. Commercial vehicles sales were up by 6% to 43,184 units from the same month last year, it added.
The Tata Motors Group's global sales comprise Tata, Tata Daewoo and Hispano Carrocera range of commercial vehicles, Tata passenger vehicles, along with the distributed brands in India, Jaguar and Land Rover.
In the late afternoon, Tata Motors was trading at around Rs183.10 per share on the Bombay Stock Exchange, 0.99% up from the previous close.