Financial Daily from THE HINDU group of publications
Wednesday, Jan 18, 2006
Financial Daily from THE HINDU group of publications Wednesday, Jan 18, 2006 |
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Logistics
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Shipping Corporate Results - Shipping ABG Shipyard Q3 net doubles Our Bureau
Mumbai , Jan 17 ABG Shipyard Ltd has reported 99.7 per cent rise in net profit for the third quarter ended December 31 2005 at Rs 20.12 crore, compared to Rs 10.07 crore in the corresponding previous period. During the quarter, total income grew by 42.5 per cent to Rs 134.29 crore (Rs 94.19 crore). The company has secured a contract from ESL Shipping of Finland for construction of two 18,800 DWT geared bulk carriers, the deliveries being scheduled within 28 and 37 months. ABG Shipyard, which has one shipyard in Gujarat, is setting up a new shipyard at Dahej. The proceeds from its recent IPO will be utilised to fund the Rs 450-crore project, which is likely to be completed in two years and will be capable of building bigger vessels up to 1.2 lakh DWT Aframax and Panamax tankers.
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