Indian Stock Market News and Analysis

>Incorporated in 1983, Mercator Lines (Q, N,C,F)* is a pioneer in the marine transportation industry. It is a provider of sea borne transportation services, primarily involved in the transportation of crude oil in India and overseas. The company`s fleet is a combination of vessels ranging from bulk carriers, medium range vessels and Aframax to VLCCs. The company has carved a niche for itself in the area of coastal tr ade by opening new avenues of transportation of molasses from Surat and minor ports in Ratnagiri. The company also handles transportation of coal at various locations.

Recently, the company announced phenomenal jump in net profit for the quarter ended June 2007. During the quarter, the earnings of the company went up 2.30 times to Rs 421.33 million from Rs 183.32 million, in the corresponding quarter last year. The net sales for the quarter declined 20.54%, to Rs 1,401.51 million, compared with the corresponding quarter, a year ago.

Shares of the company declined Rs 0.55, or 0.8%, to Rs 68.1. The total volume of shares traded were 400,936 at the BSE. (Thursday)