Cochin Shipyard Q3 Results: Net Profit Declines 27% YoY Despite Revenue Growth; Dividend Declared
Cochin Shipyard announced its Q3 results, revealing a 27% year-on-year (YoY) drop in consolidated net profit, which stood at Rs 177 crore. This decline occurred despite a 9% YoY increase in revenue from operations.
Key Financial Highlights
Here's a summary of Cochin Shipyard's Q3 financial performance:
- Net Profit: Decreased by 27% YoY to Rs 177 crore (compared to Rs 244 crore in the same quarter last year).
- Revenue from Operations: Increased by 9% YoY to Rs 1148 crore (compared to Rs 1056 crore in the same period last year).
- EBITDA: Declined by 23% YoY to Rs 237 crore (compared to Rs 310 crore in the last year quarter).
- Margins: Experienced a sharp decline to 20.7%.
Dividend Announcement
Despite the drop in net profit, Cochin Shipyard's board has declared a second interim dividend of Rs 3.5 per share for the financial year 2024-25. The record date for determining eligible shareholders is set for February 12, and the dividend will be paid on or before March 7.
Expense Analysis
Total expenses for Cochin Shipyard in Q3 amounted to Rs 9525 crore, compared to Rs 7741 crore in the third quarter of the previous year.
Stock Performance
On Thursday, Cochin Shipyard shares closed 1.04% lower at Rs 1,409 on the NSE.
In summary, while Cochin Shipyard experienced revenue growth in Q3, a significant decline in net profit and margins raises concerns. However, the declaration of an interim dividend provides some positive news for shareholders.
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