Jaya reports net profit of US$3.8 million for the third quarter ended 31 March 2012Company News // May 14, 2012
Jaya Holdings Limited and its subsidiaries reported consolidated revenue of US$16.2 million and net profit of US$3.8 million for the financial quarter ended 31 March 2012.
The group’s total revenue for the third quarter was US$16.2 million, 17 per cent
higher than the previous corresponding quarter. The increased revenue was mainly
contributed by the Offshore Shipping Division. The Shipbuilding Division recorded no
revenue for the quarter under review and the previous corresponding quarter.
The Offshore Shipping Division’s revenue was higher primarily due to higher charter
utilisation of 66 per cent for the quarter under review compared to 59 per cent in the previous quarter and a larger fleet of 29 vessels compared to 23 vessels in the
The group’s net profit for the quarter under review amounted to US$3.8 million, an 89 per cent decrease from US$34.3 million in the previous corresponding quarter.