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ABG Shipyard Q4 net profit rises 12% at Rs 45.38 crore - 2012-06-04

The country's biggest private shipyard, ABG Shipyard Ltd , posted a 12 per cent rise in net profit at Rs 45.38 crore for the quarter ended March 31, 2012. The company had reported a net profit of Rs 40.66 crore in the same quarter last fiscal.

Total income rose to Rs 663 crore from Rs 532 crore, the company said in a filing to BSE. The company reported four per cent year-on-year fall in net profit in fiscal 2011-12. In the year ended March, the company reported net profit of Rs 180.29 crore against Rs 188 crore a year ago. Its net sales rose by 17.7 per cent to Rs 2,345.24 crore in FY-12 as against Rs 1,991.99 crore in the year-ago period.

Earlier this year, ABG Shipyard had also bagged an order from Shipping Corporation of India to build six offshore vessels worth $104 million. The share price of ABG Shipyard was down 0.97 per cent at Rs 384.10 on BSE on Wednesday. Headquartered in Mumbai, ABG Shipyard has ship-building operations in Surat and Dahej in Gujarat. Following its acquisition of Western India Shipyard Ltd in October 2010, it operates a ship repair unit in Goa which happens to be the largest ship maintenance facility in India.

Source : Hindu Business Line