Cochin Shipyard Ltd has just released their financial report for the September quarter of 2023-24, and the numbers are looking strong. The company reported a 60.93% increase in consolidated profit, reaching a total of Rs 181.52 crore. This is a significant jump from the Rs 112.79 crore profit posted in the year-ago period.
Income also saw a substantial increase, rising to Rs 1,100.40 crore from Rs 744.88 crore in the previous year. However, with increased income came increased expenses, with total expenses reaching Rs 849.03 crore in the second quarter of the current fiscal, compared to Rs 579.88 crore in the year-ago period.
Despite the rise in expenses, the company’s board has approved an interim dividend of Rs 8 per share for 2023-24, indicating confidence in their financial performance. This marks a positive outlook for Cochin Shipyard Ltd as they continue to navigate the fiscal year.
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