Cochin Shipyard posts earnings drop

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Cochin Shipyard Ltd (CSL), the largest shipbuilding and repair facility in India, reported an 8 percent dip in net profit at Rs 100.21 crore for the quarter ended September 30, 2017.

The state-run company had reported a net profit of Rs 109.02 crore for the corresponding quarter of the previous fiscal, it said in a filing to the BSE. Total income during the quarter rose to Rs 648.40 crore as against Rs 586.08 crore in the year-ago quarter.

Earnings per share (EPS) for Q2 FY18 stood at Rs 7.93.

Madhu S Nair, Chairman and Managing Director, Cochin Shipyard Limited, said, “Cochin Shipyard is well on course to meet its annual financial targets”.

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