Cochin Shipyard Q2 profit soars 41 pc to Rs208 cr

Announces 16.3 pc interim dividend

KOCHI: Cochin Shipyard Ltd (CSL), the largest shipbuilding and maintenance facility in India, has reported a standalone net profit of Rs207.57 crore for the second quarter ending September 30, 2019 compared with Rs147.64 crore the company logged for the same period last year – representing 40.99 per cent growth.

While the revenues from operations during the quarter under review were at Rs971.20 crore, the total revenue including other income for the said quarter worked out to Rs1051.34 crore compared with Rs855.22 crore the company generated for the comparable period last year.

The company has recommended an interim dividend of Rs1.63 per equity of Rs10 each, representing a 16.30 per cent for the financial year 2019-20.

The company had total assets valued at Rs6023.83 crore as of September 30, 2019, whereas the asset base as of March 31, 2019 was to the tune of Rs5243.56 crore.

Cochin Shipyard Ltd (CSL) on November 1, 2019 acquired 57,20,000 (26 per cent) equity shares of Hoogly Cochin Shipyard Ltd (HCSL) held by HDPEL for an amount of Rs5.06 crore. Prior to this, CSL was holding 74 per cent equity stake in HCSL, and with this acquisition, HCSL has become a wholly owned (100 per cent) subsidiary of CSL with effect from November 01, 2019. The paid up equity share capital of HCSL is Rs 22 crore.




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