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.
In an interview with CNBC-TV18, MD & CEO Shalabh Mittal said Mercator will sustain its Q1 performance going forward with the rise in coal price boosting margins.
Shalabh Mittal, MD & CEO, Mercator an interview to CNBC-TV18 while sharing his views on first quarter numbers and business outlook going forward said in the quarter gone by they managed to post growth in most segments, especially in the dredging and tanker business.
In terms of business, Patwardhan says the company‘s coal volumes were flat in FY13. However, he expects FY14 volumes to be 'substantially better' than FY13.
Shipping firm Mercator Ltd reported a consolidated net loss of Rs 340 crore for the quarter ended December 31, 2012. The reasons for the loss as told to CNBC-TV18 by Prasad Patwardhan, CFO of the company was the subsidiary in Singapore.
Kotak Securities has come out with its earnings estimates on shipping sector for December quarter FY13. With slowing consumer demand and burgeoning order book, the container market was weak in Q3FY13 and is estimated to remain flattish in near term.
In an interview to CNBC-TV18, Atul Agarwal, Joint MD, Mercator Lines said, shipping continues to remain a challenge. The contribution from shipping, he said, is only 32%. He further said, the offshore division will perform better in the next year.
The score card is out and it’s been a mixed bag. Amidst inflationary worries and volatile global cues, many bigwigs disappointed this quarter while others came out with flying colours.