Bharati Shipyard annual net profit down to $25.53m

Bharati Shipyard slipped on annual net profit despite a gain in revenue for its financial year ended 31 March 2011.

The Mumbai-listed firm posted an annual net profit of INR1.13bn ($25.53m) compared to INR1.39bn in the previous financial year. Revenue improved to INR15.81bn compared to INR13.52bn in the previous year.

In the fourth quarter, net profit rose to INR382.3m compared to INR355.8m in the same quarter of 2010.