Cochin Shipyard rallied 3.85% to Rs 2,400.70 after the company's consolidated net profit surged 76.62% to Rs 174.24 crore in Q1 FY25 as to Rs 98.65 crore posted in Q1 FY24.
Revenue from operations climbed 62.12% year on year (YoY) to Rs 771.47 crore in the quarter ended 30 June 2024.
Profit before tax for the June quarter was at Rs 235.82 crore, up 71.68% from Rs 137.36 crore reported in Q1 FY24.
Total expenses spiked 46.63% YoY to Rs 619.66 crore during the quarter. Cost of materials consumed was at Rs 316.66 crore (up 90.31% YoY) while employee benefits expense stood at Rs 99.89 crore (up 15.29% YoY) during the period under review.
On segmental front, revenue from ship repair stood at Rs 244.78 crore (up 62.88% YoY) while revenue from ship building stood at Rs 526.70 crore (up 61.77% YoY) during the quarter.
Cochin Shipyard is engaged in shipbuilding & ship repair. As on 30 June 2024, the Government of India held 72.86% total voting right in the company.
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