New Delhi: ABG Shipyard Limited, one of the country’s leading shipbuilding companies today announced its financial results for the quarter ended 31December, 2007.
Net income for the quarter ended 31December, 2007 stood at Rs276.95 crore, a growth of 55.17 % as compared to Rs178.48 crore posted in the same period of last fiscal. Net profit for the quarter grew by 60.82 % to Rs47.11 crore as compared to Rs29.30 crore.
Earnings per share (EPS) for the quarter ended 31December jumped by 61.15 % to Rs9.25 as against Rs5.74 in same period of the last fiscal year.
The order book position as on 31December, 2007 stood at Rs8,277 crore. During the third quarter of current fiscal, ABG Shipyard received repeat orders worth Rs 1,040 crore from existing international customers. The orders are from Lamnalco Ltd, Maridrive and Oil services, Precious Shipping and ESLL for the construction of nine vessels.
Commenting on the results, Dhananjay Datar, chief financial officer, ABG Shipyard said: “enhanced productivity, faster delivery and repeat orders from existing clients is amply reflected in our current quarterly results”.