Shreyas Shipping Surges 20% Post Third Quarter Result

    The company total turnover increased by 37% this year

India: Share price of Shreyas Shipping and Logistics surged 20% at INR290 on BSE after the company reported three-fold rise in its consolidated net profit at USD1.59 million in December 2016 quarter. The company witnessed a profit of USD0.45 million last year in the same quarter. The total turnover increased by 37% at INR USD28.80 million corresponding to USD21.40 million during the same period last year. The company has signed two MOAs for acquisition of two container vessels of 2500 TEUs and 1100 TEUs capacity to enhance trade at east coast.  

TechSci Research depicts that modernization and expansion of ports by private international companies is anticipated to fuel growth in marine transport sector in India. Additionally, several Coastal Economic Zones (CEZs) projects are underway to concentrate manufacturing clusters near major ports and this is expected to surge demand for maritime trade in the country. Port led industrialization is anticipated to provide immense scope for reduction in logistics costs. Rising number of Public Private Partnerships and 100% FDI under automatic route for development of ports is anticipated to encourage international companies to start operations in India in the ensuing years.

According to released report of TechSci Research, “India Port Infrastructure Market By Type, By Cargo, Forecast & Opportunities, 2011 - 2025”, ports infrastructure market in India is projected to grow at a CAGR of over 9% during 2016-2025, on account of heavy infrastructure funding at ports and related infrastructures such as connecting roads, railways and Coastal Economic Zones. Additionally, National Perspective Plan of Government of India envisaged an investment of over USD10 billion for the next five years, aimed at development of ports.