Bharati Shipyard Q1 net slips 40.59 per cent

Bharati Shipyard Ltd, the country's second largest private ship builder, has said its net profit declined 40.59 per cent to Rupees 22.13 crore for the first quarter of current financial year The company had recorded a profit after tax of Rs 37.25 crore during April-June 2009.
However, the company's turnover rose 9.38 per cent at Rs 333.07 crore for April-June 2010 against Rs 304.49 crore for April-June 2009, it said in a statement.
As on June 30, 2010, the company has a order book position of Rs 4,997.90 crore.
Established in 1973, Bharati Shipyard designs and constructs various types of sea going, coastal harbor, inland crafts vessels and oil rigs.
Currently, the company owns five shipyards, which are located at Dabhol, Ratnagiri, Ghodbunder--Thane, Kolkata and Mangalore.