Essar Shipping board to meet again to approve financial results

MUMBAI: 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.