Cochin Shipyard Ltd’s net profit nosedives 70% to Rs 56 cr for Q1FY21

New Delhi: Cochin Shipyard Ltd’s consolidated net profit nosedived 70 percent to Rs 56 crore for the first quarter of the current fiscal as compared to Rs 185 crore in the corresponding quarter of the previous fiscal.

The consolidated revenues from operations fell 55 percent to Rs 332 crore for the first quarter of the current fiscal as compared to Rs 736 crore in the corresponding quarter of the previous fiscal. 

The consolidated total expenses of the company declined to Rs 339 crore for the first quarter of the current fiscal as compared to Rs 619 crore in the corresponding quarter of the previous fiscal, the company said in a regulatory filing.

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