ABG Shipyard Ltd, the flagship company of ABG Group, today reported a mani-fold rise in standalone net loss at Rs 374.86 crore for the quarter ended March 31 due to massive fall in its total income.
Country's largest private sector shipbuilding yard had reported a net loss of Rs 48.78 crore in the corresponding quarter of the previous fiscal, the company said in a filing to the BSE.
The company's total income from operations during the quarter under review nosedived to Rs 21.95 crore as against Rs 499.26 crore in the fourth quarter of 2013-14.
Its total expenses stood at Rs 281.16 crore as against Rs 490.78 crore during the quarter ended March 31, 2014.
The company, however, did not provide its consolidated results for the quarter.
For the full year, the company's standalone net loss widened to Rs 897.70 crore as against Rs 199.30 crore.
Total income from operations during the year also declined to Rs 392.16 crore from Rs 1,594.52 crore during 2013-14.
Its expenses stood at Rs 782.74 crore during the year as against Rs 1,250 crore.
Shares of the company closed at Rs 148.45 per scrip on BSE, down 0.64 per cent from their previous close.
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