ABG turns to loss

India's ABG Shipyard has fallen to a loss in the final quarter of its financial year despite stable revenue.

The company said it lost INR 490m ($8.27m) on a net basis to 31 March, against a profit of INR 150m in the same period a year ago.

Revenue dipped 0.77% to INR 3.89bn.

The loss for the full year was INR 1.99bn, compared to an INR 1.08bn profit in the previous 12 months.

The yard has this year restructured $1.8bn of debt.