Media reports say that Varun Shipping Company reported a net Loss of Rs 54.94 crore in the quarter ended September 2013 as against net loss of Rs 116.03 crore during the previous quarter ended September 2012. Sales declined by 58.48 per cent to Rs 35.63 crore in the quarter ended September 2013 as against Rs 85.82 crore during the previous quarter ended September 2012.
For the full year, net loss reported to Rs 114.58 crore in the year ended September 2013 as against net profit of Rs 38.37 crore during the previous year ended September 2012. Sales declined 58.50 per cent to Rs 193.16 crore in the year ended September 2013 as against Rs 465.50 crore during the previous year ended September 2012.
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