Mercator Lines robust quarterly earnings

Mercator Lines soared 4.08% to Rs 104.50 at 10:28 IST on BSE after posting 351.7% surge in net profit to Rs 74.04 crore on 31% growth in net sales to Rs 265.67 in Q4 March 2008 over Q4 March 2007.

The stock hit a high of Rs 107.80 and a low of Rs 102.55 so far during the day. The stock had a 52-week high of Rs 184.95 on 3 January 2008 and the stock hit a 52-week low of Rs 40.80 on 13 June 2007.

The company’s current equity is Rs 23.53 crore. Face value per share is Rs 1.

The current price of Rs 104.50 discounts its Q4 March 2008 annualised EPS of Rs 12.61, by a PE multiple of 8.29.

Mercator Lines’ net profit rose 130.88% to Rs 166.35 crore on 0.27% decline in sales to Rs 781.14 crore in the year ended March 2008 (FY 2008) over the year ended March 2007 (FY 2007).

On 7 May 2008, Mercator Lines’ wholly owned subsidiary Mercator Lines (Singapore) reported three-fold jump in net profit to $52.2 million in the year ended March 2008 over the year ended March 2007.

In April 2008, Mercator Lines, Singapore acquired a geared Panama dry bulk carrier from Ken Line, Republic of Panama for a total consideration of $65.5 million.

In March 2008, Mercator Lines, Singapore entered into negotiation with Refined Success for the time charter-out of Geastiniono TBN, a gearless panamax vessel.

The company provides marine transportation services. The group's areas of operations are tankers and lighterage. The company is a provider of sea borne transportation services, primarily involved in the transportation of crude oil in India and overseas.