Sri Lankan ship builder Colombo Dockyard said that its net profit for the September 2009 quarter almost doubled from a year ago with earnings boosted by orders to build new vessels for overseas customers.

The yard which is majority owned by Japan's Onomichi Dockyard in a stock exchange filing said that September quarter net profit shot up by 93% to INR 721 million from a year ago. Revenue for the quarter rose by 40.2% to almost INR 3.3 billion.

The company’s ship repair revenue fell but ship building revenue soared and the yard's heavy engineering division also reported sharply higher revenue.

The yard has built and delivered a series of specialized anchor handling tug supply vessels for an Indian ship owner in recent months.

(Sourced from Lanka Business Online)