Bharati Shipyard FY 07-08 Net Profit up 46.67 pc to Rs 107.33 crore

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Mumbai, May 1 (UNI) The net profit of Bharati Shipyard Limited, one of the leading private sector shipyards in the country, went up to Rs 32.65 crore for the fourth quarter ended March 31, as compared to Rs 30.75 crore for the corresponding quarter last year, a rise of 6.18 per cent.

The total turnover of the company for the Q4 stood at Rs 184.25 crore, as compared to Rs 127.41 crore for the same quarter last fiscal, an increase of 44.62 pc.

The company's net sales for April-March of this year rose by 77.75 pc to Rs 640.09 crore against Rs 360.11 crore for the corresponding period last year.

The earning per share (EPS) for the year was Rs 43.78, up by 34.63 pc over last year's Rs 32.52.

The paid-up equity share capital of the company has increased during the quarter to Rs 27.56 crore from Rs 26.48 crore on account of conversion of bonds - Tranche I and Tranche II at the rate of Rs 421.94 and Rs 497.89 per share respectively.

Bharti Shipyard's annual net profit also gone up to Rs 107.33 crore from Rs 73.18 crore last year, a jump of 46.67 pc.

Commenting on the excellent performance, BSL Managing Director P C Kapoor said ''The benefits of expanded capacities at Ratnagiri and Goa as also the timely and efficient execution of orders contributed to the stellar financial performance during the year.'' The total order book position as on March 31 this year stood at Rs 4,635.35 crore as against Rs 2,946.65 crore as on March 31 last year, up by almost 54 per cent, while order book pending execution stood at Rs 3,573.92 crore as on March 31, 2008, as compared to Rs 2,394.24 crore as on March 31, 2007.

During the current fiscal, the company plans to commence fabrication at the other Greenfield yard at Mangalore, which has capacity to build vessels upto 60,000 DWT. The yard will build off-shore vessels as well as vessels for the cargo, container and tanker segments.

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