Mercator slips to red with Rs 29 cr net loss in Q1

Mercator Ltd today posted a net loss of Rs 28.70 crore for the quarter ended June 30, 2017 on the back of lower income.

It had clocked a net profit of Rs 22.09 crore in the year-ago quarter.

Total income of the company fell to Rs 304.33 crore from Rs 578 crore during the corresponding quarter of 2016-17 fiscal.

Total expenses were at Rs 324 crore, as against Rs 555.49 crore in April-June quarter of the previous financial year.

Mercator Limited (earlier known as Mercator Lines Ltd) is a Mumbai-based International organisation. As a group, Mercator has diversified business interests in coal, commodity transportation and dredging besides oil and gas.

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