The net deficit was INR 2.94bn ($47.32m) to 31 December, versus INR 1.56bn in the same period of 2013.
It lost $28m in the second quarter.
Revenue was down 89% to INR 305.6m year-on-year.
The shipbuilder, which has restructured its debt in recent months, has blamed order cancellations for its loss.
