During the speech at the Annual General Meeting, Mr. H. K. Mittal, the Executive Chairman of the Mercator Limited, shared a snapshot of the performance and challenges that the company experienced recently.
“The companyâ€™s dredging fleet continues to remain fully employed directly with end users from both public sector ports as well as private sector marine infrastructure developers. We expect to further improve our operational efficiencies with monsoons behind us now,” said Mittal.
Earlier this month, Mercator announced that the operating profit (PBIDT) at Rs. 182 Cr increased by 18% compared to Rs. 154 Cr during Q1FY12. The consolidated net profit after tax and minority interest increased by 13% from Rs. 15 Cr in Q1FY12 to Rs. 17 Cr in Q1FY13.
Dredging Today Staff, August 29, 2012; Image: mercator