Bharati Shipyard posts Q4 loss

New Delhi: Bharati Shipyard Ltd swung to a quarterly loss on Monday, on plunging revenues and skyrocketing interest and financial charges.

India’s second-largest private shipbuilder incurred a loss of Rs365 million in the January-March quarter, compared with a profit of Rs382.3 million a year ago.

Net sales fell 63% to Rs1.29 billion, Bharati Shipyard said in a statement to the stock exchanges.