Cochin Shipyard Q4 Results: Net profit down 86% year-on-year to ₹39 crore, declares dividend; check details
2 min read 19 May 2023, 07:40 PM ISTCochin Shipyard Q4FY23 Results: The company reported an 86% year-on-year fall in its consolidated net profit (attributable to equity holders of the parent) for the fiscal's fourth quarter ended March (Q4FY23) to ₹39.3 crore.
PremiumCochin Shipyard Ltd on Friday reported an 86% year-on-year fall in its consolidated net profit (attributable to equity holders of the parent) for the fiscal's fourth quarter ended March (Q4FY23) to ₹39.3 crore. The company had reported a profit of ₹274.6 crore in the year-ago period. Sequentially, consolidated net profit was down 64%. Cochin Shipyard Ltd share price closed at ₹539.85 apiece, down 1.29% on BSE.
The consolidated revenue from operations for the the quarter ended March, declined 51% to ₹600.1 crore from ₹1,212.4 crore during the same period previous fiscal. Sequentially, it was down 6.5% from ₹641.7 crore.
The total income for Q4FY23 stood at ₹671.3 crore from ₹1,324.3 crore in Q4FY22.
At the standalone level, the company's net profit for the quarter ended March stood at ₹47.3 crore, down 83% on year from ₹284.1 crore. Revenue from operations during the same period declined 52% on year to ₹576.9 crore from ₹1211.40 crore in Q4FY22.
The board has recommended a final dividend of ₹3 per share for the financial year 2022-23. The final dividend would be paid within 30 days from the date of its declaration at the AGM, said the company in its exchange filing.
The shares of the company opened at intraday high of ₹549.80 apiece on BSE, and touched an intraday low of ₹533.20 on Friday's trade.
“No major traction in this counter during the week , as prices ended with just half a percent gains, the prices may continue to trade in a range of 570 - 530 and next directional move can only be seen on a range breakout beyond the same," said Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One.
