Essar Shipping today reported a consolidated net loss of INR2.4bn ($40.8m) for the year ending 31 March 2014, compared with a profit of INR 358m in2013 as its fourth quarter result again deteriorated.

The company said its net losses were INR 1.7bn in the final three months of the year – worsethan in the third quarter when they were INR 862m.

The