Bharati Shipyard posts Q4 net loss of $6.6mln

Bharati Shipyard reverse to a net loss in the fourth quarter from a net profit a year ago, Seatrade Asia Online reports.

The India-based shipbuilder posted a net loss of INR365m ($6.6m) during the quarter as against a net profit of INR382.3m in the same period of 2011.

Fourth quarter revenue also fell 63% year-on-year to INR1.29bn.

For the full year, Bharati recorded net profit of INR60m, down from INR1.13bn registered in the previous year.