Wednesday, August 17, 2011

Pipavav back to profit




Newly renamed Pipavav Defence & Offshore Engineering made it back into profit in the first quarter.

The Indian shipyard changed its name from Pipavav Shipyard earlier this year to highlight its focus on offshore and naval business.

It posted net earnings of INR 79.4m ($1.75m) to 30 June, compared to a loss of INR 97.8m in the same period last year.

Revenue climbed to INR 3.38bn from INR 1.76bn in 2010, while costs rose to INR 2.89bn against INR 1.75bn.



Published : August 17, 2011

Source: Asiasis



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