India’s Bharati Shipyard announced a substantial 33.5% increase in net profits for the quarter ended June 2008 to Rs. 296.8m ($6.9m).
The increase is as a result of increased orders and income from its new operations. Its new Rs 6bn ($140m) plant at Dabhol in Maharashtra is slated to be fully operational by 2010 and will feature both rig-making and ship-repair facilities. The yard has already begun filling its orderbook and has substantially contributed to the company bottom line. Total income for the quarter also saw a 41.6% increase to Rs 2,225.16m.
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