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HomeMaritime NewsRegionsAsiaABG Shipyard sees lower full year profit

ABG Shipyard sees lower full year profit

ABG Shipyard sees lower full year profit
Mumbai: India's ABG Shipyard posted lower net profit but higher revenue in the financial year ended 31 March 2012.

Full year net profit for the shipyard was INR1.9bn ($34.3m), a shade off the $1.96bn of profit recorded in the previous year.

Revenue, however, grew to INR24.7bn from INR21.3bn but operating costs were also higher at INR18.8bn compared to INR16.3bn a year ago.

“Global economies are not well. What is affecting India is the interest costs, non-availability of money and working capital,” said D Datar, ceo of ABG Shipyard.

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