The country's biggest private shipyard, ABG Shipyard Ltd , posted a 12 per cent rise in net profit at Rs 45.38 crore for the quarter ended March 31, 2012.
The company had reported a net profit of Rs 40.66 crore in the same quarter last fiscal.
Total income rose to Rs 663 crore from Rs 532 crore, the company said in a filing to BSE. The company reported four per cent year-on-year fall in net profit in fiscal 2011-12.
In the year ended March, the company reported net profit of Rs 180.29 crore against Rs 188 crore a year ago. Its net sales rose by 17.7 per cent to Rs 2,345.24 crore in FY-12 as against Rs 1,991.99 crore in the year-ago period.
Earlier this year, ABG Shipyard had also bagged an order from Shipping Corporation of India to build six offshore vessels worth $104 million.
The share price of ABG Shipyard was down 0.97 per cent at Rs 384.10 on BSE on Wednesday. Headquartered in Mumbai, ABG Shipyard has ship-building operations in Surat and Dahej in Gujarat.
Following its acquisition of Western India Shipyard Ltd in October 2010, it operates a ship repair unit in Goa which happens to be the largest ship maintenance facility in India.