Cochin Shipyard Ltd has announced a substantial increase in their consolidated profit for the September quarter of 2023-24. According to a filing to BSE, the company reported a 60.93 per cent rise in profit, reaching Rs 181.52 crore compared to Rs 112.79 crore in the same period the previous year. The income also saw a significant increase, jumping to Rs 1,100.40 crore from Rs 744.88 crore year-over-year.
Additionally, the total expenses for the company rose to Rs 849.03 crore in the second quarter of the current fiscal, up from Rs 579.88 crore in the year-ago period. In light of this positive financial performance, the company’s board has approved an interim dividend of Rs 8 per share for 2023-24.
This news is likely to have a significant impact on the market and is a testament to Cochin Shipyard’s continued success and growth. It cements their position as a key player in the industry and highlights the company’s financial stability and potential for further expansion. Investors and stakeholders are encouraged this strong performance, setting a positive trajectory for Cochin Shipyard’s future.