State-run Cochin Shipyard Ltd. reported a 19.4% year-on-year decline in consolidated net profit for the April-June quarter, as weaker operating performance weighed on margins despite a modest increase in revenue.
Consolidated net profit stood at Rs 151.5 crore in the first quarter of FY27, compared with Rs 188 crore in the year-ago period.
Revenue from operations rose 2.3% year-on-year to Rs 1,094 crore from Rs 1,069 crore a year earlier.
However, earnings before interest, taxes, depreciation and amortisation (EBITDA) declined 20.4% to Rs 193 crore from Rs 242 crore in the corresponding quarter last year.
The company's EBITDA margin consequently contracted sharply to 17.6% from 22.7% a year earlier, reflecting pressure on operating profitability.
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The quarter's performance highlights a divergence between revenue growth and profitability, with a marginal rise in the top line failing to offset the decline in operating earnings.
Cochin Shipyard, notably, is one of India's largest shipbuilding and ship-repair companies and is undertaking projects across commercial and defence segments.
Before the results were declared, shares of Cochin Shipyard closed 1% lower at Rs 1,492 apiece on the NSE, as compared to a 0.12% decline in the benchmark Nifty 50.
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