Essar Shipping Q3 net loss at Rs 109.63 crore

Essar Shipping today reported narrowing of consolidated net loss to Rs 109.63 crore for the quarter ended December 31, 2015.
The Essar Group firm had reported a net loss of Rs 115.18 crore for the October-December quarter of 2014-15.
Its total income from operations declined to Rs 433.53 crore during the quarter under review as against Rs 484.79 crore in the year-ago period.
Company's total expenses during the period declined to Rs 481.24 crore as against Rs 525.73 crore in the same quarter of the previous fiscal.
Its finance cost was higher at Rs 111.94 crore during December quarter as against Rs 96.19 crore in the year-ago period.

While fleet operating and chartering contributed Rs 201.31 crore revenue to the company, logistics services and oilfield services contributed Rs 215.07 crore and Rs 26.18 crore respectively.
Shares of the company closed at Rs 24.70 per scrip on the BSE, down 6.08 per cent.