The company said that the work package includes repair and maintenance of the equipments and systems onboard the naval vessel.

The work on the same has already been commenced during Q2 of FY24 based on the approval of necessity (AoN) from MoD, and is expected to be completed by Q1 of FY25, the PSU firm stated in the press release.

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.

The company's consolidated net profit jumped 60.93% to Rs 181.52 crore in Q2 FY24 as compared with Rs 112.79 crore recorded in Q2 FY23. Revenue from operations increased 48% year on year to Rs 1,011.71 crore in the quarter ended 30 September 2023.