Expect to conclude sale of oil & gas arm by Feb end: Mercator

Mercator reported a good set of third quarter earnings where its revenue increased 17 percent to Rs 5,870 crore quarter-on-quarter (QoQ) and the company has been able to reduce its debt by 33 percent to Rs 2,056 crore.

Speaking to CNBC-TV18, Shalabh Mittal, MD and CEO of Mercator said that the company is focused on deleveraging its balancesheet and has brought down debt to Rs 2,000 crore against Rs 3,000 crore in the first 9 months of FY17.

He further said that Mercator will conclude the sale of its oil and gas asset worth Rs 500 crore by end of February which will help to further bring down its debt.watch video for more...