India's Varun Shipping Company Ltd. said its year to March 31 net profit rose 59.73 percent on higher freight and charter hire revenues resulting from the acquisition of additional vessels, particularly in the offshore sector.
The shipping company said its net profit rose to 2.25 billion rupees from 1.41 billion rupees, a year earlier and revenues, including freight and charter hire revenues, rose to 9.34 billion rupees from 6.84 billion rupees.
Its freight and charter hire revenues increased 26.49 percent to 8.50 billion rupees from 6.72 billion rupees a year earlier.
The company declared a dividend of 50 percent from 45 percent, a year earlier.
Varun Shipping owns and operates 21 vessels comprising 12 liquefied petroleum gas (LPG) carriers, including India's largest gas carrier.
At 2:10 p.m. local time, Varun Shipping was up 0.25 percent at 79.50 rupees on the Bombay Stock Exchange and the benchmark Sensex was up 0.13 percent at 16,882.75 points.
The shipping company said its net profit rose to 2.25 billion rupees from 1.41 billion rupees, a year earlier and revenues, including freight and charter hire revenues, rose to 9.34 billion rupees from 6.84 billion rupees.
Its freight and charter hire revenues increased 26.49 percent to 8.50 billion rupees from 6.72 billion rupees a year earlier.
The company declared a dividend of 50 percent from 45 percent, a year earlier.
Varun Shipping owns and operates 21 vessels comprising 12 liquefied petroleum gas (LPG) carriers, including India's largest gas carrier.
At 2:10 p.m. local time, Varun Shipping was up 0.25 percent at 79.50 rupees on the Bombay Stock Exchange and the benchmark Sensex was up 0.13 percent at 16,882.75 points.