Shreyas to miss 30% growth target in 2006/07
Shreyas Shipping & Logistics Ltd expects to miss its target of 30 per cent for both revenue and net profit growth 2006/07, mainly due to rising fuel costs and the loss of a vessel, a senior official said.
MUMBAI: Shreyas Shipping & Logistics Ltd expects to miss its target of 30 per cent for both revenue and net profit growth 2006/07, mainly due to rising fuel costs and the loss of a vessel, a senior official said.
The company, a coastal container shipping firm, plans to diversifiy into liquid cargo transportation to widen service offerings, Executive Director Anil Devli said in an interview on Tuesday.
"It makes no sense to stick to containers," Devli said. Shreyas had said in May that it expected its revenue and net profit to increase by 30 percent in the current fiscal year ending March 2007.
The company would buy two used vessels before March 2007. It had already placed an order for one new vessel and thus would take delivery of three vessels in the next 18 months.
The company, a coastal container shipping firm, plans to diversifiy into liquid cargo transportation to widen service offerings, Executive Director Anil Devli said in an interview on Tuesday.
"It makes no sense to stick to containers," Devli said. Shreyas had said in May that it expected its revenue and net profit to increase by 30 percent in the current fiscal year ending March 2007.
The company would buy two used vessels before March 2007. It had already placed an order for one new vessel and thus would take delivery of three vessels in the next 18 months.
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