Essar Shipping on Wednesday said that its board could not approve the financials for the March quarter and the year ended March 31, 2021 due to unavoidable circumstances in finalisation of accounts
Essar Shipping on Wednesday said that its board could not approve the financials for the March quarter and the year ended March 31, 2021 due to unavoidable circumstances/delay in finalisation of accounts and completion of audit amid the pandemic.
“the Board of Directors of the Company at its meeting held on Tuesday, June 8, 2021 could not approve financials (standalone and consolidated) due to unavoidable circumstances/delay in finalisation of accounts and completion of audit in this pandemic environment,” Essar Shipping Ltd said in a regulatory filing on Wednesday.
The next meeting of Board of Directors of the Company inter alia, to consider and approve audited financial results (standalone and consolidated) of the company for the quarter and year ended March 31, 2021, would be intimated to the Stock Exchange at the earliest, it said.
The Essar Shipping had reported higher consolidated net loss at Rs 181.88 crore in the third quarter, ended December 2020 against a net loss of Rs 95.29 crore in the corresponding period of FY20.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Wed, June 09 2021. 20:08 IST