Qtrly Results: ABG shipyard etc

ABG Shipyard net rises 60.81% in Dec`07 qtr

ABG Shipyard disclosed a phenomenal jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 60.81% rise in profit to Rs 471.18 million from Rs 293 million in the quarter ended December 2006.Net sales for the latest quarter rose 54.84% to Rs 2,749.64 million compared with Rs 1,775.81 million in the corresponding quarter, a year ago.

Total income rose 55.17% to Rs 2,769.46 million for the quarter ended December 2007 from Rs 1,784.84 million for the same period, last year.The basic and diluted EPS, after extraordinary item, increased 61.14% to Rs 9.25 for the quarter ended December 2007 from Rs 5.74 for the same quarter, last year.


Highlights of the quarter:ABG Shipyard received Rs 64.87 million from the ministry of shipping, government of India as ship building subsidy.The company delivered a new Anchor handling tug supply vessel `Maridive - 229` to the owner Maridive & oil services S.A.E Egypt.ABG Shipyard bagged mega repeat orders of over Rs 10 billion from existing international customers.

Business Profile:ABG Shipyard, the flagship company of the ABG group, manufactures and repairs ships for commercial and government clients. The shipyard has constructed and delivered 95 vessels including specialized and sophisticated vessels like interceptor boats and self loading for leading companies in India and abroad.

Shares of the company declined Rs 24.25, or 2.45%, to trade at Rs 967.1. The total volume of shares traded was 59,601 at the BSE. (1.33 p.m., Monday).

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Bilpower net down 5.92% in Dec`07 qtr

Bilpower registered a 5.92% fall in net profit to Rs 66.25 million for the quarter ended December 2007, as against Rs 70.42 million for the same quarter, a year ago.

Net sales rose 31.91% to Rs 873.12 million in the quarter ended December 2007, from Rs 661.88 million in the corresponding quarter, last year.

Total income rose 31.88% to Rs 873.22 million in the latest quarter from Rs 662.09 million, a year ago.The basic earnings per share after extraordinary items, stood at Rs 7.36 for the quarter ended December 2007.

Bilpower is a leading power engineering company in India. The company is involved in manufacturing electrical laminations made up of cold rolled grained oriented (CRGO) steel sheets and stampings (stators and rotors).

Shares of the company were last trading up Rs 6.85, or 1.96%, at Rs 356. The total volume of shares traded at the BSE was 86,732. (1.47 p.m., Monday).


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