Revenue from operations surged 64.64% to Rs 1,056.4 crore in the December quarter from Rs 641.65 crore reported in Q3 FY23.

Profit before tax (PBT) soared to Rs 340.04 in Q3 FY24 as compared to Rs 140.47 crore posted in the corresponding quarter last year.

Total expenses was at Rs 774.07 crore in Q3 FY24, up 47.62% year on year. Cost of materials consumed stood at Rs 449.83 (up 93.48% YoY) and employee benefit expenses came in at Rs 93.43 crore (up 9.8% YoY) during the period under review.

The company's revenue from ship building segment was at Rs 753.10 crore (up 63.22% YoY) and income from ship repair division came in at Rs 303.3 crore (up 68.27% YoY).

During the quarter, operating margin improved to 33% as compared with 24% reported in Q3 FY23. Net profit margin increased to 23% in Q3 FY24 as against 17% registered in Q3 FY23.

Meanwhile, the company’s board has declared a second interim dividend of Rs 3.50 per share for FY24. The record date for the same is fixed on Monday, 12 February 2024.

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

The scrip hit record high at Rs 944.65 in today’s intraday session.