Shreyas Shipping & Logistics Ltd. plans to spend about 700 million rupees in the current fiscal year to March 2007 to upgrade its fleet of six vessels, a senior official said on Monday.The company, which reported a 35 percent drop in net profit for the July-Sept quarter, also expected to earn 60 percent of its revenue from logistics business in 2007/08, Executive Director Anil Devli told Reuters.
Logistics accounted for 39 percent of revenue in the latest quarter, compared with 16 percent a year ago.