Cochin Shipyard share price dropped over 5 percent in February 7 trade after the company reported 27 percent drop in the third quarter profit for the current fiscal. It reported a profit after tax of Rs 177 crore from Rs 244 crore reported in the same period a year ago.
The shares of Cochin Shipyard dropped 5.42 percent to the intraday low of Rs 1,335 per share on the NSE. At around 10:20, the stock was still trading under selling pressure to quote at Rs 1,362.45 apiece, down 3.47 percent. The scrip opened gap-down in today's trading session with a loss of 5.42 percent. The stock has been falling for the last two trading session.
The company board also declared a second interim dividend for the shares of the company. In an exchange filing, it said "the board of directors of the company at their meeting held today, February 06, 2025 declared 2nd interim dividend of Rs 3.50 per equity share of Rs 5 each fully paid-up (70%) for the financial year 2024-25 and fixed Wednesday, February 12, 2025 as the Record Date for the aforesaid interim dividend."
The company reported that its revenue from operations increased 9 percent to Rs 1,148 crore. It had reported revenue of Rs 1,056 crore in the year ago period, the company said. The company's total expenses stood at Rs 9,525 crore, down from Rs 7,741 crore in the third quarter of the previous fiscal.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
