Cochin Shipyard Q1 PAT declines 65% to Rs 41 cr

Cochin Shipyard's consolidated net profit tumbled 65% to Rs 41.43 crore in Q1 June 2020 from Rs 118.97 crore in Q1 June 2019.

Consolidated revenue from operations came at 332.47 crore in Q1 June 2020, falling nearly 55% from Rs 736.85 crore in Q1 June 2019. The result was announced during market hours today, 10 August 2020.

Profit before tax (PBT) for Q1 June 2020 stood at Rs 56.86 crore, falling 69% from Rs 185.05 crore in in the same period last year. Total tax expense declined 76% year on year to Rs 15.43 crore in Q1 June 2020.

Shares of Cochin Shipyard were up 1.9% at Rs 337.95. The scrip traded in the range of Rs 332.05 to Rs 350 so far during the day.

Cochin Shipyard is the largest shipbuilding and maintenance facility in India. It is part of a line of maritime-related facilities in the port-city of Kochi, in the state of Kerala, India.

As of 30 June 2020, the Government of India held 72.86% stake in the company.

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