The company had reported a net profit of Rs 3.48 crore during the corresponding quarter last fiscal.
The figures are not comparable as the company was reporting its results for the first time after being re-listed on the bourses on May 31, 2011, following the demerger of its shipping, oil fields and logistics businesses, it said in a filing to the Bombay Stock Exchange, mydigitalfc reports.
During the quarter, the total operating income from operations of the company was Rs 274.58 crore compared to Rs 172.97 crore in April-June quarter of 2010-11.
Essar Ports Managing Director Rajiv Agarwal told reporters that the company's revenue has risen by 61 per cent during the quarter, if compared with the erstwhile entity -- Essar Shipping, Ports and Logistics Ltd's, port business.
Asked about the listing of the demerged entity, Essar Shipping Ltd, Agarwal said, "We can say, shortly, as it is awaiting market regulator, SEBI's approval."
During the quarter under review, Essar Ports saw a jump of 14 per cent in the total cargo volumes handled at 11.2 million tonnes (MT) from 9.83 MT for the corresponding quarter last fiscal, he added.
The average price realisation for the company also increased to Rs 220 per tonne in April-June 2011, vis-a-vis Rs 173 per tonne in the same period last fiscal, Agarwal said.
It was in line with the escalation in tariff and increased cargo handling capacity of the company, he added.
Talking about expansion plans, Agarwal said Essar Ports will have a total capacity of 158 million tonnes per annum (MTPA) by 2013-14 at an investment of Rs 9,300 crore, including a debt component of Rs 6,000 crore.
"Of this, Rs 6,900 crore has already been spent and some new capacities like the 12 MTPA capacity at Vadinar port, have already been added," he said, adding that another 16 MTPA capacity, meant for handling of iron ore at Paradip port will be commissioned by February, 2012.
Essar Ports MD further said that in the next 2-3 years, the company intends to open about 25 per cent of its capacity to other customers as well.
Currently, the company, which handled a cargo of 11.2 million tonnes (MT) in the April-June quarter, uses its entire capacity for other group companies.
In the current fiscal, the company has targeted a cargo volume of 60 MT, while in 2012-13, it is expecting to handle cargo to the tune of 75 MT, Agarwal said.
Bucking the weaker sentiments of the markets today, shares of the company settled at Rs 79.10, up 7.40 per cent from it previous close on the Bombay Stock Exchange.
The figures are not comparable as the company was reporting its results for the first time after being re-listed on the bourses on May 31, 2011, following the demerger of its shipping, oil fields and logistics businesses, it said in a filing to the Bombay Stock Exchange, mydigitalfc reports.
During the quarter, the total operating income from operations of the company was Rs 274.58 crore compared to Rs 172.97 crore in April-June quarter of 2010-11.
Essar Ports Managing Director Rajiv Agarwal told reporters that the company's revenue has risen by 61 per cent during the quarter, if compared with the erstwhile entity -- Essar Shipping, Ports and Logistics Ltd's, port business.
Asked about the listing of the demerged entity, Essar Shipping Ltd, Agarwal said, "We can say, shortly, as it is awaiting market regulator, SEBI's approval."
During the quarter under review, Essar Ports saw a jump of 14 per cent in the total cargo volumes handled at 11.2 million tonnes (MT) from 9.83 MT for the corresponding quarter last fiscal, he added.
The average price realisation for the company also increased to Rs 220 per tonne in April-June 2011, vis-a-vis Rs 173 per tonne in the same period last fiscal, Agarwal said.
It was in line with the escalation in tariff and increased cargo handling capacity of the company, he added.
Talking about expansion plans, Agarwal said Essar Ports will have a total capacity of 158 million tonnes per annum (MTPA) by 2013-14 at an investment of Rs 9,300 crore, including a debt component of Rs 6,000 crore.
"Of this, Rs 6,900 crore has already been spent and some new capacities like the 12 MTPA capacity at Vadinar port, have already been added," he said, adding that another 16 MTPA capacity, meant for handling of iron ore at Paradip port will be commissioned by February, 2012.
Essar Ports MD further said that in the next 2-3 years, the company intends to open about 25 per cent of its capacity to other customers as well.
Currently, the company, which handled a cargo of 11.2 million tonnes (MT) in the April-June quarter, uses its entire capacity for other group companies.
In the current fiscal, the company has targeted a cargo volume of 60 MT, while in 2012-13, it is expecting to handle cargo to the tune of 75 MT, Agarwal said.
Bucking the weaker sentiments of the markets today, shares of the company settled at Rs 79.10, up 7.40 per cent from it previous close on the Bombay Stock Exchange.