Cochin Shipyard Q1 Results: Net profit soars 122%; know more here!

Friday deals concluded with negative market sentiment, as the Sensex and Nifty closed lower by 0.56% and 0.59%, respectively.

In this dampened market sentiment, the shares of Cochin Shipyard Limited witnessed a downfall of 2%. The company’s current market capitalization is Rs 8,493.56 crore. 

Today, the company announce stellar Q1 results. 

Key highlights are as follows:

The company’s top line reached Rs 444 crore, showing a growth rate of 0.90% year-on-year.

One of the standout achievements in the quarter was the significant improvement in operating EBITDA, which surged to Rs 82 crore from a loss of Rs 141.17 crore in Q1 FY23.

In terms of profitability, Cochin Shipyard reported a Profit After Tax (PAT) of Rs 109 crore, up by 122% from the June 2022 quarter. Additionally, the EPS for the quarter amounted to Rs 8.32 per share, indicating a positive impact on shareholders’ earnings.

Overall, Cochin Shipyard’s first-quarter performance instils confidence in its future prospects and reaffirms the company’s position on a positive growth trajectory. The steady growth, improved profitability, and efficient capital management showcased in Q1 FY24 are indicative of the company’s strong market positioning and potential for continued success. 

About the company

Established in 1972, Cochin Shipyard Limited (CSL) stands as a prominent contender in the construction, repair, and refit of diverse vessel types, including extensive services like periodic upgradation and ship life extension. Renowned for its craftsmanship, CSL has undertaken the construction and repair of sizable vessels for global clients. With an impressive track record, the company has exported around 45 ships to international customers. Over time, CSL has honed its capabilities, transitioning from building bulk carriers to more technologically advanced ships, encompassing Platform Supply Vessels and Anchor Handling Tug Supply Vessels.

The stock has witnessed significant buying activity surging more than 93% in the last 1 year.  

Keep a close eye on this trending stock.