The Bombay-listed shipbuilder posted a second quarter net profit of INR 13m ($206,700), less than a third of the INR 42m booked during the same leg of 2012.

Revenue for the period fell to INR 3.74bn from INR 5.72bn a year earlier.

ABG has suffered from a series of vessel cancellations due to late delivery.

As we report in this week’s printed edition of TradeWinds, the