Private sector shipbuilder ABG Shipyard today posted an over 32% fall in its September quarter net at Rs 32.8 crore, and also said its managing director R S Nakhra has stepped down citing health reasons.
The company had posted a post tax profit of Rs 48.4 crore in the corresponding July-September period last year.
It recorded net sales of Rs 543.6 crore during the reporting period as against Rs 571.6 crore in the corresponding year last year, according to a press statement issued here.
The statement, however, did not specify reasons for the dip in either profit or sales.
The company stock ended 1.78 percent down at Rs 391.20 at the BSE, whose broader 30-share benchmark shed 0.86% at the end of trade.
In a filing to the exchange, the company said managing director R S Nakhra has stepped down owing to health reasons and Girish Nayak has been appointed as an additional director.
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