Cochin Shipyard Q4 Results | Profit shoots up nearly 7-fold, declares dividend of ₹2.25/share.
Cochin Shipyard Ltd, a state-owned company, reported a significant surge in net profit and revenue for the fourth quarter of the fiscal year ending March 31, 2024.
Cochin Shipyard Ltd (CSL), a government-owned entity, announced a substantial 558.823% increase in net profit to ₹258.9 crore for the fourth quarter ending March 31, 2024, compared to ₹39.3 crore in the same period last year. Revenue surged by 114.33% to ₹1,286 crore from ₹600 crore in the corresponding period of the previous fiscal year. EBITDA for the quarter reached ₹288.3 crore, a significant improvement from a loss of ₹67.1 crore in the same quarter of the previous fiscal. The company proposed a final dividend of ₹2.25 per equity share with a face value of ₹5 each for the financial year 2023-24, pending shareholder approval at the upcoming annual general meeting (AGM). This dividend is expected to be disbursed within 30 days from the AGM date.
These results were announced after the market closed, with Cochin Shipyard Ltd shares closing at ₹1,910.95, up ₹16.65 or 0.88% on the BSE.
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