Swan Defence and Heavy Industries reported net profit of Rs 566.44 crore for the quarter versus a loss of Rs 0.55 crore a year earlier, including write-back of excess provisions made in earlier years.

Swan Defence and Heavy Industries Ltd emerged as the lowest bidder for a Rs 1,897 crore order from a proposed joint venture led by Shipping Corporation of India Ltd to build four dual-fuel ready Medium Range product tankers, quoting about $48.9 million per vessel and outbidding Cochin Shipyard Ltd, which would boost its order book as India's largest shipyard by dry dock capacity.