Cochin Shipyard Q1FY25, Net Profit Rises 76% YoY

by Psu Connect
Date: 09-08-24

The company’s ship-building revenue rose 58.25% year on year to Rs 465.06 crore while the ship repair revenue gained 62.88% to Rs 244.77 crore.

Cochin Shipyard Q1FY25, Net Profit Rises 76% YoY

The defense company Cochin Shipyard Ltd has reported a 76.5% YoY rise in the net profit to Rs 174.2 crore in the June quarter. The shares of the state-owned company have surged as much as 6.5% for the second quarter of this fiscal year.

In the corresponding quarter of the previous year, the company reported a net profit of Rs 109 crore and revenue of Rs 444.41 crore. The market capitalization of Cochin Shipyard is Rs 63,812.87 crore, according to the Bombay Stock Exchange (BSE). The company falls under the BSE500 category.

The company’s ship-building revenue rose 58.25% year on year to Rs 465.06 crore while the ship repair revenue gained 62.88% to Rs 244.77 crore. The EBITDA margin stood at 23% in the reporting quarter versus 16.5% in the corresponding period in the previous fiscal.

The revenue from operations rose 62.1% annually to Rs 771.5 crore in Q1FY25, from Rs 475.9 crore in Q1FY24. At the operational level, earnings before interest, tax, depreciation, and amortization (Ebitda) zoomed 125.4% year-on-year to Rs 177.4 crore in the June quarter of FY25, from Rs 475.9 crore in the June quarter of FY24.