Cochin Shipyard Q1 Results: Net profit rises 77% to Rs 174 crore; revenue jumps 62% YoY

economictimes.indiatimes.com:

Cochin Shipyard on Thursday reported a 76.6% year-on-year (YoY) growth in its consolidated net profit to Rs 174.23 crore for the June 2024 quarter of FY25. It had clocked Rs 98.65 crore profit in the year-ago period.

The company's revenue from operations increased 62% to Rs 771.47 crore against Rs 475.86 crore in the corresponding period of the preceding fiscal.

Meanwhile, on a sequential basis, net profit of the company declined 32.7% from Rs 258.88 crore posted in the preceding fourth quarter. Revenue from operations also fell by 40% quarter-on-quarter (QoQ).

The net profit margin for the reported quarter stood at 25%, up from 21% in Q1 FY24 and 20% in Q4 FY24.

Other income during the June quarter of 2024 rose 5% QoQ to Rs 84 crore as against Rs 80.11 crore in the March quarter of 2024.

Total expenses during the first quarter increased 46.6% YoY to Rs 619.66 crore. This compares with Rs 422.58 crore posted in the year-ago quarter.

Cochin Shipyard shares closed 1.6% lower to Rs 2,311.8 on BSE.

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