Indian bulker and tanker owner Essar Shipping has fallen to a loss in its fourth quarter, but will be boosted by an arbitration award.

Its net deficit to 31 March was INR 385m ($5.7m), against INR 358.8m in the same period of 2015.

Revenue fell to INR 1.47bn from INR 1.84bn over the same period.

However, the company said the result does not include a $47.13m