Cochin Shipyard shares rose about 6% on August 9 as investors hailed the company’s strong earnings for the quarter ending June 2024. The firm recorded a 77% increase in net profit to Rs 174.2 crore.
In the current quarter, the state-run firm’s operating revenue increased by 62.1 percent year on year to Rs 771.47 crore.
EBITDA, or earnings before interest, tax, depreciation and amortisation, increased 125 percent YoY to Rs 177.3 crore at the PSU operating level. EBITDA margins were 23 percent in Q1FY25 compared to 16.5 percent in the same time in the previous fiscal year.
Cochin Shipyard is a Miniratna PSU that focuses on shipbuilding and ship repair, serving both local and international markets.
As of 10:50 am, Cochin Shipyard shares were trading 4.45% higher at Rs 2,415.15 on the NSE.
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