Bharati Shipyard Ltd (BSL) on Monday said net profit nearly doubled at Rs 25.75 crore during the quarter ended September 30 compared to Rs 12.65 crore in the corresponding period last fiscal.
Net sales for the quarter soared by 96.12 per cent at Rs 148.03 crore as against Rs 75.48 crore in the same period a year ago, the private shipyard said in a statement.
The company reported a net profit of Rs 47.98 crore during the six month period ending September 30 compared to Rs 24.77 crore in the corresponding period last year.
Net sales in the first six months of FY08 stood at Rs 295.19 crore compared to Rs 142.79 crore recorded in the same period of last fiscal.
"The capital expansion at our yards and consequent increase in production has resulted into the growth of our turnover and profitability," BSL Managing Director P C Kapoor said.
During the quarter, Bharati Shipyard signed a 50:50 joint venture agreement with Apeejay Shipping for setting up large modern shipbuilding yard along the east coast of the country.
The company's current order book stands at Rs 4,080 crore.
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