Cochin Shipyard Ltd's Q3FY25 Quarter Results
- 07 Feb 2025
Result Summary
- Cochin Shipyard Ltd reported a 4.0% quarter-on-quarter (QoQ) decrease in its consolidated revenues for the quarter-ended Dec (Q3FY25). On a year-on-year (YoY) basis, it witnessed a growth of 7.2%.
- Its expenses for the quarter were down by 2.9% QoQ and up 24.4% YoY.
- The net profit decreased 6.3% QoQ and decreased 27.6% YoY.
- The earnings per share (EPS) of Cochin Shipyard Ltd stood at 6.7 during Q3FY25.
Financial Statments for Q3FY25
| (₹ crores) | Q3FY25 | Q2FY25 | Q3FY24 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total Income | 1194.42 | 1244.34 | 1114.11 | -4.0% | 7.2% |
Total Expenses | 952.56 | 980.92 | 765.44 | -2.9% | 24.4% |
Profit Before Tax | 241.86 | 263.43 | 340.04 | -8.2% | -28.9% |
Tax | 64.87 | 74.50 | 95.66 | -12.9% | -32.2% |
Profit After Tax | 176.99 | 188.92 | 244.38 | -6.3% | -27.6% |
Earnings Per Share | 6.70 | 7.20 | 18.60 | -6.9% | -64.0% |
Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
Company Overview
Cochin Shipyard Ltd is a notable entity in the shipbuilding and repair industry, primarily engaged in the construction of vessels and ship repair services. As one of the largest shipbuilding and maintenance facilities in India, the company caters to both domestic and international clients, including the Indian Navy, Coast Guard, and various commercial shipping companies. The company is located in Cochin, Kerala, and has been a pivotal part of the maritime industry, contributing significantly to India's defense and commercial shipping capabilities. Cochin Shipyard Ltd has been involved in several major projects, encompassing the manufacturing of defense vessels and passenger ships, and is recognized for its capabilities in constructing complex vessels. Recently, the company has focused on enhancing its infrastructure and expanding its capabilities to handle larger and more technologically advanced vessels.
Revenue
In the third quarter of fiscal year 2025 (Q3FY25), Cochin Shipyard Ltd reported a total income of ₹1194.42 crores. This represents a decrease of 4.0% from the previous quarter (Q2FY25), where the total income stood at ₹1244.34 crores. However, when compared to the same quarter in the previous fiscal year (Q3FY24), the total income has increased by 7.2%, up from ₹1114.11 crores. This year-over-year growth indicates a general upward trend in revenue generation for the company over the past year, despite the quarter-on-quarter decline observed in the current fiscal year.
Profitability
During Q3FY25, Cochin Shipyard Ltd's profit before tax was ₹241.86 crores, marking an 8.2% decline from the previous quarter's ₹263.43 crores. Compared to Q3FY24, the profit before tax has decreased significantly by 28.9% from ₹340.04 crores. The profit after tax followed a similar trend, amounting to ₹176.99 crores in Q3FY25, down by 6.3% quarter-over-quarter from ₹188.92 crores in Q2FY25, and by 27.6% year-over-year from ₹244.38 crores in Q3FY24. The earnings per share (EPS) also decreased to ₹6.70 in Q3FY25 from ₹7.20 in the previous quarter, and from ₹18.60 in the same quarter last year, reflecting a YoY decline of 64.0%. These figures suggest changes in the profitability landscape when comparing both the sequential quarters and the annual periods.
Operating Metrics
Cochin Shipyard Ltd's total expenses for Q3FY25 came in at ₹952.56 crores, showing a slight reduction of 2.9% from Q2FY25, where expenses were ₹980.92 crores. However, there is a notable increase of 24.4% in total expenses when compared to Q3FY24, which recorded ₹765.44 crores in expenses. The tax expense also decreased by 12.9% from the previous quarter, at ₹64.87 crores in Q3FY25 compared to ₹74.50 crores in Q2FY25, and by 32.2% year-over-year from ₹95.66 crores in Q3FY24. These operational metrics reflect the company's cost management and tax liabilities adjustments across different periods, which have impacted the overall financial results.
