Jaya Holdings saw a turnaround in its business in the first quarter ended 30 September reporting a $10.1m profit, Seatrade Asia online reports.
Profits were 113% higher than the previous corresponding quarter and the offshore vessel builder and operator reported revenues of $38.7m for the first quarter.
“We are in a significantly better position today, compared to a year ago. With the timely shift in our strategic focus to grow our charter fleet and operations, Jaya has been able to capitalise on the upturn in the sector,” said Venkatraman Sheshashayee, ceo of Jaya.
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