The Indian-owned bulker company said the net deficit to 30 September was $7.46m, against $3.28m in the same period of 2013.
Revenue dropped to $13.23m from $23.18m year-on-year.
CEO Shalabh Mittal said the company had “continued to play upon its strengths” to outperform the Baltic’s panamax index, however.
It achieved a time charter equivalent of $10,125 per day versus the index of $6,806 per day, it said.
Mittal
