Pipavav Defence reports 24% fall in Q1 net profit

18 Aug 2014

Pipavav Defence and Offshore Engineering Company has reported results for first quarter ended June 30, 2014.

The company’s net profit has declined by 23.62% at Rs 5.56 crore as compared to Rs 7.28 crore for the quarter ended June 30, 2013. Its total income has decreased by 53.78% to Rs 328.47 crore for the quarter under review from Rs 710.68 crore for the corresponding quarter of the previous year.

Pipavav Defence and Offshore Engineering Company is engaged in defence, offshore, marine and engineering sectors. The company has two units, one special economic zone (SEZ) unit spread over around 95 hectares of land and another export oriented unit (EOU) spread over around 103.92 hectares of land.

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