Bharati Shipyard on Monday reported a decline of 29.6 per cent in its net profit for the third quarter ended December, to Rs 23.1 crore due to rise in interest payments.
The company had reported a net profit of Rs 32.9 crore during the corresponding quarter of 2009-10. Net sales of the company rose 7.9 per cent to Rs 344.9 crore for the quarter, as against Rs 319.4 crore it had reported in the same quarter of 2009-10, it said in a filing to the Bombay Stock Exchange.
For the October-December, 2010 quarter, the company paid Rs 63.4 crore in interest on loans, vis-a-vis Rs 23 crore during the quarter last financial year, Bharati said.
