Cochin Shipyard Limited, India’s premier shipbuilding and maintenance facility, announced its third-quarter results on Friday, reporting a total income of ₹1,194 crore. This marks a 7.2% increase compared to the same period last year but a 4% decline sequentially. The net profit stood at ₹177 crore, reflecting a 27.6% decrease year-on-year and a 6.3% drop from the previous quarter.
The company’s ship repair segment experienced significant growth, with revenue surging 77% year-on-year to ₹500.24 crore in the third quarter. However, overall revenue and profitability were impacted by a 25% decline in shipbuilding income, which fell to ₹647.4 crore during the same period.
Additionally, the company declared a second interim dividend of ₹3.50 per equity share for the financial year 2024-25, with a record date set for February 12, 2025, and payment to be made on or before March 7, 2025.
Following the earnings announcement, Cochin Shipyard’s shares declined by 3.29% in early trading, reaching ₹1,364.95. This represents a 54% decrease from the all-time high of ₹2,979.45 recorded in July 2024.
