Cochin Shipyard Q1 net up 17 pc to Rs 106 cr

Cochin Shipyard Limited (CSL) today reported a 17 per cent increase in net profit to Rs 106.31 crore for the quarter ended on June 30, 2018.

The public sector undertaking had clocked a net profit of Rs 91.16 crore for the corresponding period a year-ago.

"The company reported a healthy increase of 17 per cent in its PAT to Rs 106.31 crore for Q1FY19, as compared to Rs 91.16 crore in the corresponding quarter of last fiscal. The company's Q1FY19 PAT margin stood at 16.14 per cent, as compared to 16.39 per cent in Q1FY18," the company said in a statement.

It said its revenue from operations for the quarter stood at Rs 658.73 crore against Rs 556.25 crore in the same period last year.

Cochin shipyard is one of the leading shipbuilding & repair yard in India, which claims to have an infrastructure that combines economy, scale, and flexibility, and has ISO 9001 accreditation.

CSL has been rated excellent by the Government of India, in the past several years for achieving the targets set for the yard under the MOU system, the statement said.