Business News/ Markets / Stock Markets/  Cochin Shipyard Q4 results: Share price crack over 11% on poor Q4 earnings

Cochin Shipyard share price crashed over 11% on Monday after the company reported poor earnings for the quarter ended March 2023. The stock plunged as much as 11.19% to 479.40 apiece on the BSE in the early trade.

Cochin Shipyard, the state-run shipbuilding and maintenance company, on Friday reported an 86% fall in its consolidated net profit for the fourth quarter ended March 2023 to 39.3 crore as compared to 274.6 crore in the year-ago period. Sequentially, consolidated net profit was down 64%. 

The company’s consolidated revenue from operations in Q4FY23 declined 51% to 600.1 crore from 1,212.4 crore, YoY.

Read here: Cochin Shipyard Q4 Results: Net profit down 86% year-on-year to 39 crore, declares dividend; check details

The board of the company also recommended a final dividend of 3 per share for FY23.

The shares of Cochin Shipyard have risen over 51% in the last one year.

At 12:40 pm, shares of Cochin Shipyard were trading 9.42% lower at 489.00 apiece on the BSE.

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Updated: 22 May 2023, 12:42 PM IST
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