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Cochin Shipyard Profit Halved Amid Rising Expenses
11 Nov
Summary
- Consolidated net profit fell nearly 50% year-on-year to Rs 53.77 crore.
- Expenses rose faster than revenue, impacting profitability significantly.
- Shipbuilding segment reported a loss, while ship repair business grew.
Cochin Shipyard Ltd experienced a significant downturn in its September quarter performance for FY27, leading to a more than 6% drop in its share price on Wednesday, November 11, 2026. The company reported a consolidated net profit of Rs 53.77 crore, a stark decrease from Rs 107.53 crore in the same period last fiscal year.
This profit reduction occurred as total expenses escalated by 14.7% to Rs 1,256.72 crore, outpacing the 11.7% revenue growth to Rs 1,249.19 crore. Consequently, profit before tax saw a nearly 50% decline. The shipbuilding segment was a major concern, incurring a loss of Rs 6.08 crore, a sharp reversal from the previous year's profit of Rs 149.71 crore.
In contrast, the ship repair segment demonstrated robust growth, with revenue increasing by 29.6% to Rs 466.05 crore and its segment result more than doubling to Rs 143.34 crore. However, this positive performance in ship repair was insufficient to offset the losses and underperformance within the shipbuilding division, impacting the company's overall financial results.
