Cochin Shipyard Limited On Friday reported an 86% year-on-year decline in its consolidated net profit (attributable to equity holders of the parent) for the fourth quarter of the financial year ended March (Q4FY23). 39.3 crores. The company reported a profit of 274.6 crore in the year-ago period. Sequentially, consolidated net profit was down 64%. The share price of Cochin Shipyard Limited closed at Rs. 539.85, down 1.29% on the BSE.
Consolidated revenue from operations declined by 51% for the quarter ended March 600.1 crore to 1,212.4 crore during the same period last fiscal. Sequentially, it was down 6.5% 641.7 crores.
Total income for Q4FY23 stood at from 671.3 crores 1,324.3 crore in Q4FY22.
At the standalone level, the company’s Net stood at a profit for the quarter ended March 47.3 crore, down 83% from the year before 284.1 cr. Revenue from operations declined 52% year-on-year during the same period 576.9 crores from 1211.40 cr in Q4FY22.
Board has recommended final dividend 3 per share for the financial year 2022-23. The company in its exchange filing said that the final dividend will be paid within 30 days from the date of its declaration at the AGM.
Shares of the company opened at the highest level of the day at 549.80 BSEand hit a day low 533.20 in Friday’s trade.
“There is no major traction in this counter during the week as prices ended with only half a percent gain, prices may continue to trade in the range of 570 – 530 and next directional move will be seen only on a range breakout beyond that May go. Rajesh Bhosle – Equity Technical & Derivatives Analyst said, angel one,
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