New Delhi: State-owned Cochin Shipyard Ltd reported an impressive increase in its consolidated net profit, reaching Rs 258.88 crore for the March 2024 quarter, driven by higher income.
This marks a substantial rise from the Rs 39.33 crore profit recorded in the same period the previous year, according to the company's regulatory filing.
Total income for the quarter surged to Rs 1,366.16 crore, up from Rs 671.32 crore in January-March FY23. The company's board approved a final dividend of Rs 2.25 per share for FY24.
Cochin Shipyard, a leading shipbuilding and repair yard in India, also has a dedicated area for offshore construction and future expansion.
The largest shipbuilding and maintenance facility in India reported revenue from the shipbuilding segment increased to Rs 985.15 crore from Rs 453.84 crore in Q4 FY23.
Revenue from ship repairing rose to Rs 300.89 crore, compared to Rs 146.24 crore the previous year.
For the entire FY24, Cochin Shipyard's profit more than doubled to Rs 783.27 crore, up from Rs 304.70 crore in FY23.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
