Cochin Shipyard slides as Q3 PAT fall 28% YoY to Rs 177 cr

Cochin Shipyard slipped 2.58% to Rs 1,374.85 after the company's consolidated net profit fell 27.6% to Rs 176.99 crore in Q3 FY25 as against Rs 244.38 crore posted in Q3 FY24.

However, revenue from operations rose 8.6% YoY to Rs 1,147.64 crore in the quarter ended 31 December 2024.

Profit before tax for the December quarter was at Rs 241.86 crore, down 28.9% from Rs 340.04 crore reported in the same quarter last year.

Total expenses jumped 23.05% YoY to Rs 952.56 crore during the quarter. The cost of materials consumed was at Rs 513.10 crore (up 14.06% YoY), while employee benefits expenses stood at Rs 103.16 crore (up 10.41% YoY) during the period under review.

On the segmental front, revenue from ship building stood at Rs 647.40 crore (down 14% YoY), while revenue from ship repair stood at Rs 500.24 crore (up 64.93% YoY) during the quarter.

On nine-month basis, the company's consolidated net profit increased 3% to Rs 540.15 crore in 9M FY25, compared to Rs 524.56 crore recorded in 9M FY24. Revenue from operations jumped 20.4% YoY to Rs 3,062.31 crore in 9M FY25.

Meanwhile, the companys board has declared a second interim dividend of Rs 3.50 per equity share for the financial year 2024-25. The record date for this interim dividend has been fixed as Wednesday, 12 February 2025. Eligible shareholders will receive the dividend on or before 7th March 2025.

Cochin Shipyard is engaged in shipbuilding & ship repair. As of 31 December 2024, the Government of India held 67.91% total voting rights in the company.

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