DSIJ Mindshare

State-owned listed entity, Cochin Shipyard Limited (CSL) has signed a MoU with United Shipbuilding Corporation (USC) to design and develop state-of-art vessel that can be run in Inland and Coastal waterways.

Hindalco reported healthy quarterly numbers with robust revenue due to strong traction in metal prices. Further, its US subsidiary also recorded 92 per cent jump in net profit for the quarter.

The company’s net loss for the period narrowed to Rs. 41.1 crore in the quarter from Rs. 69.6 crore in corresponding quarter of last year.

In Budget 2018 infrastructure sector received a budgetary allocation of Rs 5.97 lakh crore for FY18-19. This represents an increase of 21 per cent as against revised estimates of last year. The government of India sees infrastructure investment need of Rs. 50 lakh crore to increase growth rate of GDP.

EBITDA for the quarter rose by 5.7 per cent yoy to Rs. 89.14 crore with a corresponding margin contraction of 5 bps. EBITDA margin for the quarter stood at 9.3 per cent. The PAT for the quarter came in at Rs. 53.14 crore, yoy decline of 4.1 per cent. This was led by jump in effective tax rate from 32 per cent to 36 per cent.