Cochin Shipyard Reports 4% Profit Rise in Q2

11 Nov 2024 , 11:58 AM

Cochin Shipyard Ltd. (CSL), the state-owned shipbuilder reported a 4% year-on-year rise in net profit for Q2 FY25, totaling ₹189 Crore compared to ₹182 Crore in the same period last year.

Revenue from operations grew by 13%, reaching ₹1,143.2 Crore, up from ₹1,011.7 Crore in Q2 FY24. At the operational level, EBITDA rose by 3.2% to ₹197.3 Crore for Q2 FY25, up from ₹191.2 Crore in the previous fiscal year. EBITDA margin stood at 17.3% in Q2 FY25, slightly lower than the 18.9% margin recorded in Q2 FY24.

The company declared an interim dividend of ₹4 per equity share (80%) for FY25, with a record date set for November 20, 2024, and payment expected by December 6, 2024.

CSL has approved a plan to raise up to $50 million through US dollar-denominated non-convertible senior unsecured fixed-rate notes. The funds raised will support sustainable projects and other permitted uses, with notes potentially listed on international exchanges or Indian platforms like IFSC or NSE IFSC.