Cochin Shipyards Q3 PAT up 31.8% at Rs223.73cr materials costs drop sharply

Cochin Shipyards reported a sharp -16.45% fall in gross revenues for the Dec-20 quarter on consolidated basis at Rs748.70cr

Feb 13, 2021 07:02 IST India Infoline News Service

Cochin Shipyards reported a sharp -16.45% fall in gross revenues for the Dec-20 quarter on consolidated basis at Rs748.70cr. The two core revenue segments of Cochin Shipyards viz. Ship Building and Ship Repair suffered a setback in the quarter as global trade activity was just about picking up. This resulted in a sharp fall in overall revenues, although the bounce has been quite sharp sequentially, compared to the Sep-20 quarter.



For the Dec-20 quarter, the consolidated operating profits were up 61.34% at Rs298.94cr. The big gain in the quarter from an operational perspective was the 59% fall in the cost of materials consumed due to a global fall in input prices for the ship building industry. The other operating expenses were almost at par with the Dec-19 quarter. As a result, OPM nearly doubled from 20.68% in Dec-19 quarter to 39.93% in Dec-20 quarter.



The consolidated Profit after tax (PAT) for the Dec-20 quarter was up 31.75% at Rs223.73cr as a sharp dip in miscellaneous income took away some of the sheen of the sharp growth in operating profits. PAT margins still expanded on a yoy basis from 18.95% in the Dec-19 quarter to 29.88% in the Dec-20 quarter.



Financial highlights for Dec-20 compared yoy and sequentially



Cochin Shipyards
Rs in Crore Dec-20 Dec-19 YOY Sep-20 QOQ
Total Income (Rs cr) ₹ 748.70 ₹ 896.09 -16.45% ₹ 657.40 13.89%
Operating Profit (Rs cr) ₹ 298.94 ₹ 185.29 61.34% ₹ 111.52 168.06%
Net Profit (Rs cr) ₹ 223.73 ₹ 169.81 31.75% ₹ 107.16 108.78%
Diluted EPS (Rs) ₹ 17.01 ₹ 12.91 ₹ 8.15
OPM 39.93% 20.68% 16.96%
Net Margins 29.88% 18.95% 16.30%
 

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