Bharati Shipyard Q2 turnover at Rs 343 cr, up 8.55%

Private sector shipyard Bharati Shipyard (BSL) today said that it has clocked a 8.55 per cent growth in its turnover at Rs 343.38-crore for the quarter ending September 30, as compared to Rs 316.33-crore in the corresponding period of the previous year.

The company's EBITDA (without subsidy) increased 6.73 per cent to Rs 63.95-crore, as against Rs 59.92-crore for the previous year, the company said in a statement issued here.

Its profit after tax stood at Rs 29.25-crore in the reporting quarter.

Commenting on the performance, the company's Managing Director P C Kapoor said: "The turnover for the quarter under consideration increased 8.55 per cent to Rs 343.38-crore, due to execution at the greenfield yards of the company. The capital expansion over the past years is yielding benefits in terms of higher and efficient utilisation of the additional capacities created by the company."

Bharati Shipyard currently owns five shipyards, which are strategically located at Dabhol, Ratnagiri, Ghodbunder–Thane, Kolkata and Mangalore.

A subsidiary of the group, Pinky Shipyard, owns a shipyard at Goa. It has a strong order-book position of Rs 4,997.90-crore as on September 30, 2010.