Essar Shipping Ports & Logistics has announced its first quarter financial results for the fiscal year 2010-11.

According to the company, it has registered a mammoth six fold net profit rise in the first quarter of the year. Essar Shipping Ports & Logistics's net profit has touched 39 crore the April-June quarter of fiscal year 2010-11 which is almost six times of the net profit figure of the similar quarter in the last fiscal year.

The company has registered a net profit of Rs 6 crore in the same quarter in the previous year. The firm has informed this in a filing at the Bombay Stock Exchange.

According to the company officials, the higher income from port and terminal services has helped the firm to register such a huge net profit rise. The revenue of the company has gone up by 18% and has touched Rs 795 crore during first quarter of the fiscal.

Apart from that, its EBITDA has surged up by 16% and has reached Rs 338 crore for the June quarter of the year.