Pipavav Shipyard (PSL) has reported a net profit of Rs 2.6 crore for the quarter ending December 31, 2010.
The company had reported a net loss of Rs 39.82 crore for the same period last fiscal, a press release issued here today said.
The total income for the quarter increased by 49% to Rs 254 crore from Rs 167 crore for the same period last year, the release added.
"We are happy to report the satisfactory results. We are confident that deliveries from the shipyard will commence the next quarter. We have an order book of 21 vessels, including 12 for ONGC, under construction," Pipavav Shipyard Chairman Nikhil Gandhi said.
PSL is the largest ship-building facility in India and among the largest in Asia.
Commercial operations at PSL commenced on April 1, 2009.
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