Seamec has announced its first quarter (April to June) results. The company's Q1 net profit was at Rs 8.6 crore versus loss of Rs 22.7 crore, year-on-year, (YoY). Its net sales were up at Rs 46 crore versus Rs 24.9 crore, YoY.
Speaking to CNBC-TV18, CJ Rodricks, managing director of the company said that the day rates are not picking up much and the company trying to enhance them and focus on utilisation. Below is verbatim transcript of his interview with CNBC-TV18's Udayan Mukherjee and Mitali Mukherjee. Also watch the accompanying video. Q: Can you start off by giving us a sense of whether or not you saw any significant improvement in day rates this quarter round? A: As I have said before the day rates are not picking up much. What we actually have focused on right now is utilisation as last year we had quite a setback because of utilization. For this year if you see the notice has driven; BSE & NSE, and we have got 3 vessels that are occupied more or less right through till the end of this financial year. The utilisation is definitely improved to a great extent. We are focusing now on trying to enhance the rates, because we do have a good product, we are quite focused and I think there is a good chance of enhancing the rates for the future work. Q: We hear the SeamecDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
