Cochin Shipyard share price plunged over 11% on Monday after the company reported poor earnings for the quarter ending March 2023. The stock fell as much as 11.19%. 479.40 per share on BSE in early trade.
Cochin Shipyard, the state-run shipbuilding and maintenance company, on Friday reported an 86% decline in its consolidated net profit for the fourth quarter ended March 2023. 39.3 crore as compared to 274.6 crore in the year-ago period. Sequentially, consolidated net profit was down 64%.
Company’s consolidated revenue from operations down 51% in Q4FY23 600.1 crore to 1,212.4 crore, YoY.
The company’s board also recommended a final dividend. 3 per share for FY23.
Shares of Cochin Shipyard have gained over 51% in the last one year.
At 12.40 pm, the shares of Cochin Shipyard were trading down by 9.42 per cent. 489.00 per share on BSE.
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