Cochin Shipyard gains as Q1 PAT soars 77% YoY to Rs 174 cr

Revenue from operations climbed 62.12% year on year (YoY) to Rs 771.47 crore in the quarter ended 30 June 2024.

Profit before tax for the June quarter was at Rs 235.82 crore, up 71.68% from Rs 137.36 crore reported in Q1 FY24.

Total expenses spiked 46.63% YoY to Rs 619.66 crore during the quarter. Cost of materials consumed was at Rs 316.66 crore (up 90.31% YoY) while employee benefits expense stood at Rs 99.89 crore (up 15.29% YoY) during the period under review.

On segmental front, revenue from ship repair stood at Rs 244.78 crore (up 62.88% YoY) while revenue from ship building stood at Rs 526.70 crore (up 61.77% YoY) during the quarter.

Cochin Shipyard is engaged in shipbuilding & ship repair. As on 30 June 2024, the Government of India held 72.86% total voting right in the company.