Cochin Shipyard's Q2 profit halves as shipbuilding segment slips into loss
Mumbai, Nov 10
State-run shipbuilder Cochin Shipyard Limited on Tuesday reported 50 per cent decline in profitability for the quarter ended September 2026 as weakness in its shipbuilding business weighed on earnings despite higher revenue and a strong performance from the ship repair segment.
The company posted a consolidated net profit of Rs 53.8 crore in the second quarter of FY27, down 50 per cent from Rs 107.5 crore in the corresponding quarter of the previous fiscal (Q2 FY26), according to its stock exchange filing.
However, revenue from operations rose 11.7 per cent year-on-year to Rs 1,249 crore, compared with Rs 1,119 crore in the year-ago period.
Operating performance remained under pressure during the quarter. EBITDA declined 30.8 per cent to Rs 50.95 crore from Rs 73.66 crore a year earlier, while EBITDA margin contracted to 4.1 per cent from 6.6 per cent in the same quarter last financial year.
The company's segment-wise performance reflected a mixed trend. Revenue from the shipbuilding business increased marginally to Rs 783.1 crore from Rs 759 crore in the corresponding quarter last year.
However, the segment reported an operating loss of Rs 6.1 crore, compared with an operating profit of Rs 149.7 crore in the year-ago period, as per its regulatory filing.
In contrast, the ship repair division delivered a strong performance. Revenue from the segment climbed to Rs 466.05 crore from Rs 359.6 crore a year ago, while operating profit more than doubled to Rs 143.3 crore from Rs 67.2 crore.
Alongside the quarterly results, the board of directors approved an interim dividend of Rs 3 per equity share of face value Rs 5 for the 2026-27 financial year, translating into a payout of 60 per cent of the face value.
The company has fixed November 16, 2026, as the record date for determining shareholders eligible to receive the dividend.
The dividend payment is scheduled to be completed on or before December 9, 2026.
— IANS
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