However, the company mentioned that the final award of the contract is subject to completion of necessary formalities. It added that the order does not involve any related party transactions and that its promoter group has no interest in the awarding entity.
Shares of Cochin Shipyard ended at ₹1469.40 apiece, 0.23% down for the day.For the quarter ended December 31, the company’s net profit declined 18.3% year-on-year to ₹144.6 crore, compared with ₹177 crore in the same period last year.
Revenue for the quarter rose 17.7% year-on-year to ₹1,350.4 crore, reflecting steady execution across projects. However, EBITDA fell 21.5% to ₹186.6 crore from ₹237.6 crore a year earlier, leading to a sharp contraction in operating margin to 13.8% from 20.7%.
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(Edited by : Ajay Vaishnav)
