Cochin Shipyard Ltd. (CSL) reported a strong 77% increase in net profit for the first quarter of FY25, reaching Rs 174.2 crore, up from Rs 98.6 crore in the same period last year. However, this figure represents a 33% decline from the Rs 258.8 crore profit recorded in the March quarter.
The company’s revenue from operations also showed significant growth, jumping 62.1% year-on-year to Rs 771.47 crore in Q1FY25, compared to Rs 475.86 crore in Q1FY24. Despite this, revenue was down sharply from Rs 1,286 crore in the previous quarter.
During the quarter, the cost of materials consumed almost doubled to Rs 316.6 crore, up from Rs 166.4 crore in the corresponding quarter of the previous fiscal year, though it decreased from Rs 626.5 crore in the March quarter.
On August 8, Cochin Shipyard’s shares closed 1.76% lower at Rs 2,308 apiece on the NSE. This decline follows a steep drop in the stock price on August 5, driven by global market concerns over a potential recession in the U.S., which saw the shares hitting a 5% lower circuit amid broader market sell-offs.
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Source: Moneycontrol
News Desk
