Miniratna reports strong Q1 performance: Net profit skyrockets 2-fold; Do you own it?
The stock has witnessed significant buying activity surging more than 93 per cent in the last 1 year.
Friday deals concluded with negative market sentiment, as the Sensex and Nifty closed lower by 0.56 per cent and 0.59 per cent respectively.
Founded in 1972, Cochin Shipyard Limited is a leading player in vessel construction, repair, and refits. It has a strong legacy of building and repairing diverse vessels, including advanced ones like Platform Supply and Anchor Handling Tug Supply Vessels. With an international presence, CSL has exported around 45 ships, showcasing its expertise and global reach in the maritime industry.
On August 11, 2023, the company reported encouraging financial results, details as follows:
The company's top line reached Rs 444 crore, showing a growth rate of 0.90 per cent year-on-year.
One of the standout achievements in the quarter was the significant improvement in operating EBITDA, which surged to Rs 82 crore from Rs 34 crore in Q1 FY23.
In terms of profitability Cochin Shipyard, reported a Profit After Tax (PAT) of Rs 109 crore, up by 122 per cent from June 22 quarter. Additionally, the EPS for the quarter amounted to Rs 8.32 per share, indicating a positive impact on shareholders' earnings.
Overall, Cochin Shipyard’s first-quarter performance instils confidence in its future prospects and reaffirms the company's position on a positive growth trajectory. The steady growth, improved profitability, and efficient capital management showcased in Q1 FY24 are indicative of company’s strong market positioning and potential for continued success.
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This miniratna scrip has witnessed significant buying activity surging more than 93 per cent in the last 1 year.
In this dampen market sentiment, the shares of Cochin Shipyard Limited witnessed a downfall of 2 per cent. The company's current market capitalization is Rs 8,493.56 crore.
Keep a close eye on this trending stock.
Disclaimer: The article is for informational purposes only and not investment advice.