Mercator Result Second Quarter 2018

Mercator Petroleum Limited1Mercator Limited today announced its 02 FY19 results. The Company reported an operating income of INR 222 crores and an EBITDA of INR 72 crores. The detailed performance summary is given below:

• Consolidated operating income up 8% to INR 222 crores from Q2 FY18.
• Strong consolidated EBITDA margins of 32% in 02 FY19 compared to 20% in Q2 FY18.
• Coal – PAT positive INR 11 crores during 02FY19 & INR 19 crores during H1FY19.
• Standalone Shipping business- PAT positive during Q2FY19.
• Oil production commenced at Jyoti-1 at an initial run rate of~ 100-300 Barrels/day.

Segmental Review

COAL

•Achieved Strong EBITDA margin of 27% in Q2 FY19- Better than 9% in Q2FY18 and 17% in FY18.
• H1FY19 production at 0.96 million tonnes – On track to beat FY 19 budgeted target of 2 Mn MT.
• Coal segment continued to contribute the largest share to Q2 FY 19 consolidated revenues and EBITDA.

SHIPPING

• Achieved strong EBITDA margin of 62% compared to 43% in Q2 FY18.
• All Vessels 100% deployed except Vedika Prem which underwent a technical off-hire in early August-18 and consequently went for lay up (i.e. mini dry-dock).

DREDGING

• Dredging revenue for Q2 FY19 up by 10% compared to Q2 FY18.
• New contracts of INR 69 crores awarded during H1 FY19.
• Orders in hand of INR 155 crores as on 30th September, 2018 out of which orders worth INR 95 crores will be executed during H2 FY19.

OIL & GAS

• The new era of the Company has begun during September-18 w hereby Oil production commenced at Jyoti-1.
• Mobilization is in process for 2″d Oil well- Jyoti-11.