The Hindu Business Line : ABG Shipyard Q1 net rises 97 per cent

ABG Shipyard has reported a 96.75-per-cent increase in its net profit for the first quarter of the current fiscal to touch Rs 26.93 crore, as against Rs 13.69 crore in the corresponding quarter of last fiscal.

During the quarter, its net sales were Rs 165.71 crore, compared to Rs 101.37 crore, marking an increase of 63.47 per cent.

The company bagged two major orders worth Rs 98 crore from Vroom Offshore of The Netherlands and another order worth Rs 48 crore from Lamnalco of Cyprus. Its order book at presents stands at Rs 2,310 crore.

The company has delivered 92 vessels since 1990 and expects to cross 100 vessels by the end of the current fiscal.

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