Bharati Shipyard reported a second-quarter loss Monday despite a sharp declinein capital expenditures.
The Indian shipbuilding group turned in a net loss of INR 816.3m ($14.7m), reversing a profit of INR 173m in the comparable period a year prior.
In addition to a 53% slip in sales, which fell to INR 1.7bn year-on-year, the company said theresults were partially impacted by costs associated with its ongoing financial restructuringbut warned that the “full effect” would not be recorded until the third quarter.
Bharati’s
