State-run Cochin Shipyard Ltd. has approved a split of one of its equity share of face value of ₹10 into two shares of face value of ₹5 each, according to an exchange filing.

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The record date for the stock split will be determined at a later date.

For the September quarter, the company reported a net profit of ₹181.5 crore, a growth of 61% compared to the same period last year.

Revenue for the period also grew by 48% year-on-year to ₹1,011.7 crore compared to ₹683.2 crore from the same period last year.

Operating profit or EBITDA grew by 41.2% from last year to ₹191.2 crore, while margin narrowed by 80 basis points to 19% from 19.8%.

Growth mainly came from the ship building and repair segment, which grew by 48% from last year. Margins for this segment also improved by 160 basis points.

Shares of Cochin Shipyard are trading 4% higher at ₹1,043.1. The stock has nearly doubled this year.