ABG Shipyard Limited = RESULTS = FOR Q3 FY 2011 = QTR ENDING DECEMBER 2010 = NET PROFITS DOWN BY 35.78%

ABG Shipyard Limited

NSE Symbol   ABGSHIP

ABG SHIPYARD has declared results for the third quarter ending December,2010.

Net Sales is Rs.540 cr – down by 2.75% from previous qtr (Q2 FY 11) and up by 9.61% from corresponding qtr (Q3 FY 10).

Total Expenditure is Rs.418 cr – down by 1.37% from previous qtr and up by 14.39 % from corresponding qtr.

Profit from Operations is Rs.122 cr – down by 7.24% from previous qtr and down by 4.16% from corresponding qtr.

Net Profit is Rs.53 cr – down by 5.01% from previous qtr and down by a huge 35.78% from corresponding qtr.

Basic EPS is Rs.10.5 against Rs.11.05 in previous qtr and Rs.16.16 in corresponding Qtr.

RESULTS TABLE :

ABG SHIP	31-Dec-10	30-Sep-10	30-Jun-10	31-Mar-10	31-Dec-09
Net Sales	54018	55548	44945	52016	49282
DIF %1	540	-2.75	20.19	3.85	9.61
Incre./decr.in SIT / WIP	5519	5569	13581	-12368	-266
Raw Materials	22907	27254	11420	45687	25619
Employees Cost	1578	1612	1393	1858	1228
Depreciation	1737	1406	1366	1224	8269
Other Expenditure	10098	6578	6102	5721	1725
Total Expenditure	41839	42419	33862	42122	36575
DIF %2	418	-1.37	23.56	-0.67	14.39
Profit from Operations	12179	13129	11083	9894	12707
DIF %3	122	-7.24	9.89	23.09	-4.16
Other Income	3	52	250	308	129
Interest	4024	4012	4207	3632	3808
Exceptional Items	-	743	1375	514	-3439
Profit before tax	8158	8426	5751	6056	12467
Tax expense	2813	2799	1910	771	4238
Net Profit	5345	5627	3841	5285	8229
DIF %4	53	-5.01	39.16	1.14	-35.78
Dividend (%)	-	-	-	40	-
Face Value (In Rs	10	10	10	10	10
Paid Up Equity	5092	5092	5092	5092	5092
Basic EPS	10.5	11.05	7.54	10.38	16.16
Public holding (%)	39.65	42.91	42.86	42.86	42.86

09-02-2011    ABG Shipyard Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-DEC-2010 as follows: Net Sales of Rs. 54018 lacs for quarter ending on 31-DEC-2010 against Rs. 55548 lacs for the quarter ending on 30-SEP-2010. Net Profit / (Loss) of Rs. 5345 lacs for the quarter ending on 31-DEC-2010 against Rs. 5627 lacs for the quarter ending on 30-SEP-2010.

02-11-2010    Abg Shipyard Limited has informed the Exchange vide its letter dated November 02, 2010 regarding "ABG BAGS EXPORT ORDER WORTH RS.2000.00 CRORES FOR CONSTRUCTION OF 2JACK UP RIGS".

15-10-2010    Abg Shipyard Limited has informed the Exchange vide its letter dated October 15, 2010 regarding "Delivery of Vessels".   

15-10-2010    Abg Shipyard Limited has informed the Exchange vide its letter dated October 15, 2010 regarding "ABG Bags Order Worth Approx. USD82.5 Million (approx. Rs. 370.00 crores)".

15-09-2010    ABG Shipyard Limited has informed the Exchange that the Company has been awarded with a 'Shield for Star Performer as Large Enterprise' in the product group of Miscellaneous Transport Equipment and Parts in recognition of Company's outstanding contribution to Engineering Exports during the year 2008-09. Further, the Company has infromed that the Company has been recipient of this award for the seventh consecutive year starting 2002-03 and 8th in overall.

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