Cochin Sipyard Ltd. reported a significant decline in its second quarter earnings.
Consolidated net profit plunged 43% to Rs 108 crore in the July-September period, compared to Rs 189 crore in the corresponding quarter last year, according to results announced on Wednesday. Higher expenses contributed to the decline.
The bottomline fell for the second consecutive quarter.
Revenue from operations of the PSU shipmaker fell 2% to Rs 1,119 crore, marking another quarter of decline.
The company's operational performance fared poorly. Earnings before interest, tax, depreciation and amortisation fell 63% to Rs 74 crore, compared to Rs 197 crore. Margin contracted to 6.6% from 17.3%.
Income from shipbuilding segment dropped 12%, while ship repair rose 27%.
Cochin Shipyard Dividend
Cochin Shipyard board announced an interim dividend of Rs 4 per equity share for the financial year 2025-26. The record date has been fixed as Nov. 18, and the dividend will be paid to the eligible shareholders on or before Dec. 11.
Shares of Cochin Shipyard settled 2.1% higher at Rs 1,792.05 on the BSE, ahead of the results, compared to a 0.7% advance in the benchmark Sensex.
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