Cochin Shipyard tanks ~5% post Q3FY22 numbers

24 Feb 2022 , 03:23 PM

Cochin Shipyard Limited announced its quarterly results and reported a standalone turnover of Rs952.88 crore for Q3FY22 against Rs748.70 crore in the previous corresponding quarter, registering a growth of 27% yoy.

The company’s PAT stood at Rs134.39 crore for the quarter ended December 2021 and Rs229.48 crore for the quarter ended December 2020, declining 41% yoy.

Its consolidated revenue for the 9M period ended December 2021 was Rs1,978.90 crore against Rs2,818.90 crore for the 9M ended December 2020, registering a substantial decline. PAT for the 9M period ended December 2021 stood at Rs289.35 crore against a PAT of Rs608.66 crore for the previous 9M period.

PAT Margin stood at 14% for the current quarter, and EBITDA margin was 22% for Q3FY22.

Standalone EBITDA for the current quartet also dipped by 38% yoy at Rs206.47 crore against Rs333.32 crore in the previous corresponding quarter.

Cochin Shipyard slipped 4.65% in today’s trade at Rs288.15 near closing time, against its previous closing price of Rs302.20. It touched day’s high and low of Rs297.90 and Rs285.05 respectively.