The group net loss was INR 862.4m ($13.91m), against a profit of INR 178.5m in the same period of 2012.
Revenue, which includes logistics and oilfield services, was INR 4.52bn from INR 7.92bn the year before.
Its tankers and bulkers turned in a net loss of INR 767.8m, against a loss of INR 145.9m in 2012.
Ship transport CEO Anoop Sharma said: “While the freight rates in the shipping industry showed some signs of revival in the third quarter, we have witnessed sharp corrections especially in the dry bulk markets in the beginning of the new year.
"We
