Cochin Shipyard Q4 Results, net profit stood at Rs 258.9 crore

Public sector entity Cochin Shipyard Ltd (CSL) has reported a 558.823% year-on-year (YoY) jump in net profit at Rs 258.9 crore for the fourth quarter that ended March 31, 2024.

While in the corresponding quarter, Cochin Shipyard posted a net profit of Rs 39.3 crore, the company said in a regulatory filing. The company's revenue from operations increased 114.33% to Rs 1,286 crore as against Rs 600 crore in the corresponding period of the previous fiscal.

 EBITDA jumped to Rs 288.3 crore in the fourth quarter of this fiscal over a loss of Rs 67.1 crore in the corresponding period in the previous fiscal, in terms of operating level. EBITDA is earnings before interest, tax, depreciation, and amortization.

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The board has recommended a final dividend of Rs 2.25 per equity share of face value of Rs 5 each, for the FY 2023-24 subject to the approval of the shareholders at the ensuing annual general meeting (AGM) of the company. The final dividend will be paid within 30 days from the AGM.

The company earned a revenue of Rs 985.15 crore from the shipbuilding segment as against Rs 453.84 crore in Q4 FY23. In terms of ship repairing, it has registered a revenue of Rs 300.89 crore compared to Rs 146.24 crore a year ago. For the entire FY24, the company's profit more than doubled to Rs 783.27 crore from Rs 304.70 crore in FY23. 

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