Wednesday, March 05, 2025 | 04:57 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Essar Shipping shares spurt 13% on Q3 nos

Image

Press Trust of India Mumbai

Ignoring a weak broader market, shares of Essar Shipping rallied by 13% today on the company's robust earnings for the third quarter of 2011-12.

Cheering the smart results, shares of the company climbed 12.14% to Rs 35.10 on the BSE. Frenzied buying also pushed up the company's stock on the National Stock Exchange by 13% to Rs 35.10.

Essar Shipping yesterday posted 43% increase in profit after tax for the quarter ended December 31, at Rs 48.6 crore, against Rs 33.9 crore in the same quarter last year.

The revenue increased by 11% to Rs 729.2 crore during the October-December quarter of 2011-12, against Rs 658.8 crore in the year ago period.

 

The surge in the stock was in sharp contrast to a sluggish broader market with the BSE 30-share key index Sensex trading at 17,640.99, down 66.33 points at 1045 hrs.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 09 2012 | 11:39 AM IST

Explore News