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Bharati Shipyard promoters hike stake in the firm by 4.34%

05 Jul 2011 Evaluate

Bharati Shipyard has seen two of its promoters increasing their stake together in the firm by 4.34%. Two promoters of the company - Vijay Kumar and Prakash Kapoor - have hiked their respective stake in the company to 18.06% each.

Kumar and Kapoor held 15.89% stake each in Bharati Shipyard previously. They increased their stake by acquiring 6.9 lakh shares each through preferential allotment. As on March-end, promoters were holding 44.47% stake in Bharati Shipyard.

The company has reported a marginal increase of 7% to Rs 38.22 crore for the quarter ended March 31, 2011 as compared to Rs 35.57 crore for the quarter ended March 31, 2010. The company has reported net sales / income from operations of Rs 34.58 crore for the quarter under review as compared to Rs 324.17 crore for the corresponding quarter of the previous year.

For the year ended March 31, 2011, the net profit of the company dipped 19% to Rs 112.76 crore as compared to Rs 138.86 crore for the year ended March 31, 2010. The company has reported net sales / income from operations of Rs 1368 crore for this year as compared to Rs 1264.81 crore for the year ago period.

Bharati Shipyard is the foremost privately operated shipyard in terms of building facilities in India. The company’s product range includes highly maneuverable and power packed offshore vessels including AHTS, PSV’s and MSV’s of varying bollard pulls, Tractor and ASD tugs, state of the art dredgers, deep sea fishing vessels, cargo and container ships, tankers and Ro - Ro Vessels.

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