Cochin Shipyard, a leading shipbuilding and repair yard in India, released its financial performance for the June quarter today, post market hours, reporting a 19.4% year-on-year decline in consolidated net profit to ₹151.45 crore, compared with ₹188 crore in the corresponding quarter last year.
The decline in profitability was primarily driven by lower revenue across both shipbuilding and ship-repair segments, coupled with a weaker segment mix.
On a sequential basis, the net profit came in lower as it declined by 45.2% from ₹276.48 crore in the March quarter, while the revenue fell 26.3%.
Its revenue from operations rose 2.4% YoY to ₹1,094.21 crore, from ₹1,068.59 crore in Q1 FY26.
The pressure was visible at the operating level, with EBITDA standing at around ₹193.18 crore, compared with ₹240.34 crore in the year-ago period, while the EBITDA margin moderated to around 17.7% from 22.5% a year earlier.
In terms of segment-wise performance, the shipbuilding business remained the key growth driver, with revenue rising 59.5% YoY to ₹700.04 crore from ₹438.97 crore, while segment profit (PBIT) jumped 75.5% to ₹63.89 crore from ₹36.41 crore.
In contrast, the ship-repair business witnessed a sharp decline, with revenue falling 37.4% YoY to ₹394.17 crore from ₹629.62 crore, while segment profit declined 51.5% to ₹135.02 crore from ₹278.24 crore.
The company’s total expenses increased 9.1% YoY to ₹958.76 crore during the quarter, compared with ₹873.38 crore a year ago. The cost of materials consumed rose to ₹453.26 crore from ₹325.06 crore, while finance costs increased to ₹25.36 crore from ₹12.17 crore.
