Leading shipbuilding and repair yards Cochin Shipyard on Friday reported a 135 percent year-on-year (YoY) jump in consolidated net profit at Rs 98.65 crore, compared to Rs 42 crore in the corresponding quarter of last fiscal.

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Revenue from operations, meanwhile, rose 7.9 percent YoY to Rs 475.9 crore for the quarter under review as against Rs 440.9 crore in the year-ago quarter.

The company reported an EBITDA (earnings before interest, tax, depreciation and amortisation) of Rs 78.7 crore for the June quarter. Meanwhile, margins during the quarter came in at 16.5 percent.

Following the results, shares of Cochin Shipyard rallied 7 percent to hit an intra-day high of Rs 675.95 from day's low of Rs 632.20. The stock has given multibagger returns of 100 percent to investors in the last one-year period. On a year-to-date basis, the stock is up 25 percent.

First Published:Aug 11, 2023 1:41 PM IST