Indian shipbuilder Reliance Defence and Engineering (RDEL) has reduced its first quarter loss despite a fall in revenue.
The former Pipavav yard said the net deficit was INR 1.34bn ($20m) to 30 June, from INR 1.67bn in 2015.
Revenue fell by 34% to INR 742m, while overall costs also dropped, to INR 1.18bn from INR 1.7bn.
The yard is listed as having two bulkers and a supply ship on its books.
