Mercator has returned to profit in the third quarter thanks to a strong performance from its tankers.
The Indian owner reported an after-tax profit of INR 216m ($3.2m), overturning a loss of INR 3.15bn in the corresponding quarter of 2015.
Its revenue increased by 17% to INR 5.87bn with the company’s VLCCs deployed “at a substantially higher rate”.
Shalabh Mittal, chief executive of Mercator, said: “We have delivered a strong set of results which highlight our unique positioning in our key businesses.
“We
