â€œOur cargo volumes grew 11 percent to 14.08 million tone and we are confident of handling 60 MT by year-end,â€ Rajiv Agarwal, managing director, Essar Ports told moneycontrol.com
Rajiv Agarwal, CEO and MD, Essar Ports says, in an interview to CNBC-TV18, that quarterly profit was up due to the boost in cargo volumes and increased cost control.
Essar Ports reported a profit of Rs 92 crore in its fourth quarter. The company plans to pare its interest costs this year, says Rajiv Agarwal, managing director & CEO Essar Ports in an interview to CNBC-TV118.
On Wednesday, Essar Ports announced a strategic pact with port of Antwerp with an investment of Rs 175 crore in Essar. In an interview with CNBC-TV18, Rajiv Agarwal, CEO & MD, Essar Ports said, "It is an investment of about Rs 175 crore."
Essar Ports posted a five fold increase in its net profit for the September-December quarter while its total revenue rose to Rs 276.78 crore from Rs 190.27 crore in the year ago period.
In an interview to CNBC-TV18, Rajiv Agarwal, chief executive officer and managing director of Essar Ports says, third party volumes have gone up to 2% from almost zero. "We expect this volume to go up to 30% by 2014-15. We are on track on that."