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Bharati Shipyard’s Q3 net profit down 30%

Bharati Shipyard’s Q3 net profit down 30%
PTI
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First Published: Mon, Feb 07 2011. 08 11 PM IST
Updated: Mon, Feb 07 2011. 08 11 PM IST
Mumbai: Bharati Shipyard on Monday reported a decline of 29.66% in its net profit for the third quarter (Q3) ended 31 December, to Rs 23.16 crore due to rise in interest payments.
The company had reported a net profit of Rs 32.93 crore during the corresponding quarter of 2009-10.
Net sales of the company rose 7.97% to Rs 344.97 crore for the quarter, as against Rs 319.48 crore it had reported in Q3 of 2009-10, it said in a filing to the Bombay Stock Exchange (BSE).
For the October-December, 2010 quarter, the company paid Rs 63.47 crore in interest on loans, vis-a-vis Rs 23.05 crore during Q3 in the last fiscal, Bharati said.
The company’s scrip closed on Monday at Rs 156.50 apiece on the BSE, down 2.80 % from the previous close.
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First Published: Mon, Feb 07 2011. 08 11 PM IST