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HomeMaritime NewsRegionsAsiaBharati Shipyard sinks to Q4 net loss

Bharati Shipyard sinks to Q4 net loss

Bharati Shipyard sinks to Q4 net loss
Mumbai: Bharati Shipyard reverse to a net loss in the fourth quarter from a net profit a year ago.

The India-based shipbuilder posted a net loss of INR365m ($6.6m) during the quarter as against a net profit of INR382.3m in the same period of 2011.

Fourth quarter revenue also fell 63% year-on-year to INR1.29bn.

For the full year, Bharati recorded net profit of INR60m, down from INR1.13bn registered in the previous year.

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