Indian state-owned shipbuilder Cochin Shipyard (CSL) reported a year-on-year (YOY) decline in net profit of 27.6 per cent in the third quarter of the current fiscal year.
Net profit for Q3 FY2024-25 ending on December 31, 2024 was at INR1.77 billion (US$20 million) compared to INR2.44 billion (US$28 million) at the end of Q3 of the preceding fiscal year.
Revenue meanwhile increased by 8.9 per cent to INR11.476 billion (US$130 million) from INR10.564 billion (US$120 million) at the end of Q3 FY2023-24.
EBITDA dropped by 23.4 per cent to INR2.374 billion (US$27 million) from INR3.101 billion (US$35 million) in the year-ago quarter. The EBITDA margin in Q3 FY2024-25 decreased sharply YOY to 20.7 per cent from 29.4 per cent.
CSL's financial results were released on Thursday, February 6.
The company also announced the declaration of a second interim dividend of INR3.50 (US$0.04) per equity share of INR5.00 (US$0.06) each fully paid-up (70 per cent) for FY2024-25. Wednesday, February 12, has been fixed as the record date for the interim dividend, which shall be paid to eligible shareholders on or before March 7, 2025.
