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Revenue from operations increased 48% year on year to Rs 1,011.71 crore in the quarter ended 30 September 2023.
The firm reported a profit before tax of Rs 251.37 crore in Q2 FY24, up 52.35% as against Rs 165 crore in Q2 FY23.
The company's revenue from Ship building was at Rs 759.81 crore (up 44.03% YoY) while revenue from Ship Repair stood at Rs 251.90 crore (up 61.87% YoY) during the period under review.
On half year basis, the company's consolidated net profit jumped 80.79% to Rs 280.17 crore on 32.34% increase in revenue from operations to Rs 1,487.58 crore in H1 FY24 over H1 FY23.
Meanwhile, the company's board has approved the sub division of existing one equity share of face value of Rs 10 each fully paid up into two equity shares of face value of Rs 5 each fully paid up.
Further, the board has also declared an interim dividend of Rs 8 per equity share of Rs 10 each for the financial year 2023-2024. The record date for the same is fixed as on 20 November 2023. Interim dividend will be paid to shareholders on or before 6 December 2023.
Cochin Shipyard is engaged in shipbuilding & ship repair. As on 30 September 2023, the Government of India held 72.86% total voting right in the company.
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