Revenue from operations dropped 50.5% year on year to Rs 600.09 crore in the quarter ended 31 March 2023.

The firm reported a loss before exceptional items and tax of Rs 5.24 crore in Q4 FY23 as against a profit before exceptional items of Rs 378.69 crore posted in Q4 FY22. Exceptional items stood at Rs 61.81 crore during the quarter.

The company's revenue from Ship building was at Rs 453.85 crore (down 52.71% YoY) while revenue from Ship Repair stood at Rs 146.24 crore (down 42.13% YoY) during the period under review.

For the full year, consolidated net profit tumbled 46% to Rs 304.71 crore on 25.9% decline in net sales to Rs 2,364.55 crore in FY23 over FY22.

Meanwhile, the company's board has recommended a final dividend of Rs 3 per share for the financial year 2022-23, subject to the approval of the shareholders at the ensuing AGM.

Cochin Shipyard is engaged in shipbuilding & ship repair. As on 31 March 2023, the Government of India held 72.86% in the company.