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Our Bureau

Mumbai , Nov. 1

ABG Shipyard has reported a 42.8 per cent jump in its net profit for the second quarter of the current fiscal to touch Rs 27.1 crore, compared to Rs 18.9 crore in the corresponding period a year ago. During the quarter, the company's income was Rs 167.9 crore, against Rs 113.9 crore in the same period last fiscal, representing an increase of 47.45 per cent.

According to Mr Rishi Agrawal, Chairman and Managing Director of the company, higher output and reduction in costs due to large number of similar ships being built at the shipyard had driven growth during the quarter.

The company has since 1990 delivered 93 ships of various types. Thanks to the boom in the ship building industry, the company has an order book position of 48 ships valued at Rs 2,382 crore.

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