Bharati Shipyard net rises 19.16% in Dec'08 qtr

Bharati Shipyard reported a rise in standalone net profit for the quarter ended December 2008 on account of rise in sales. During the quarter, the profit of the company rose 19.16% to Rs 318.09 million from Rs 266.94 million in the same quarter last year.
Net sales for the quarter jumped 44.65% to Rs 2,548.98 million, while total income for the quarter jumped 43.66% to Rs 2,548.98 million, when compared with the prior year period.
The company posted earnings of Rs 11.54 a share during the quarter, registering 5.97% growth over previous year period.
During the quarter, the operating margin of the company fell by 188.81 basis points to 25.46% compared with the previous year period. Interest cost increased 2.07 times to Rs 137.29 million while depreciation cost rose 29.02% to Rs 26.85 million over previous year period.
Bharati Shipyard is a private sector Indian shipyard engaged in design and construction of various types of sea-going, coastal, harbor and inland crafts and vessels.