ABG Shipyard reports excellent Q3 results

ABG Shipyard Ltd, the largest shipbuilding company in the country, has reported a 54.3 per cent in its EBIDTA to Rs 124.7 crore in the third quarter of 2008-09, as against Rs 80.8 crore during the same period of 2007-08.

According to Exim News Service, the net sales during the quarter rose by 77.8 per cent to Rs 488.9 crore from Rs 275 crore in the corresponding quarter of 2007-08.

The net profit during October-December stood at Rs 46.1 crore.

For the nine-month period (April-December 2008), the net sales totalled Rs 1,041.3 crore, as against Rs 690.2 crore; showing a handsome increase of 50.9 per cent from the corresponding period of 2007-08. The net profit for the three quarters stood at Rs119.1 crore, as against Rs 114.6 crore, indicating an increase of 3.9 per cent.

The total order book position, as on December 31, 2008, stood at Rs 11,355 crore, Mr Dhananjay Datar, CFO of ABG Shipyard, revealed.

Source: Transportweekly