Cochin shipyard advanced 4.52% to Rs 1,993 after it reported a consolidated net profit of Rs 258.88 crore in Q4 FY24, steeply higher than Rs 39.34 crore recorded in Q4 FY23.
Revenue from operations zoomed 114.31% to Rs 1,286.05 crore in the March quarter as against Rs 600.09 crore reported in the same period a year ago.Profit before tax (PBT) soared to Rs 342.32 in Q4 FY24, as compared with Rs 56.57 crore posted in Q4 FY23.
The company's revenue from ship building segment was at Rs 985.16 crore (up 117.07% YoY) and income from ship repair division came in at Rs 300.89 crore (up 105.75% YoY).
On a full year basis, the companys consolidated net profit surged 157.06% to Rs 783.28 crore on 61.99% jump in revenue to Rs 3,830.45 crore in FY24 over FY23.
Meanwhile, the companys board has recommended a final dividend of Rs 2.25 per share for FY24, subject to the approval of the shareholders. The dividend would be paid within 30 days from the date of its declaration at the AGM.
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Cochin Shipyard is engaged in shipbuilding & ship repair. As on 31 March 2024, the Government of India held 72.86% total voting right in the company.
Shares of Cochin Shipyard has hit an all-time high of Rs 2,034 in todays intraday session.
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