ESSAR Shipping, Ports & Logistics has declared its fourth quarter financial results for the fiscal year 2009-10 and the company has informed about a fall in net profit figures. The company has posted a net profit of Rs
64 crore for the quarter that ended in 31st March, 2010.

The net profit of the firm has fallen down by 10% for the fourth quarter last year. So far as the total income of the firm is concerned, it has touched Rs 909 crore during the January-March period of fiscal year 2009-10. It has improved by 19% in the quarter review against the like period last year. On the contrary, the total expenses of the firm have gone up by 57% to Rs 595 crore.

The annual net income of the company was reported to be of Rs 94 crore for the year under review with a hike of 22% as compared to last year. Director of ESSAR Shipping, Ports & Logistics, Mr. V Ashok has informed that the company will invest Rs 4,875 crore in this fiscal year to strengthen its business in India. For Ports, it will invest Rs 2,875 crore while the remaining amount for the shipping and drilling activities.