Cochin Shipyard shares fell 8% in morning trade on 11 November, hitting a day low of Rs 1,186.50 on NSE after quarterly profit halved.

The state-owned shipbuilder earned a consolidated net profit of Rs 53.77 crore in the July to September quarter.

A year earlier, it made Rs 107.53 crore. Sales did grow. Revenue from operations rose 11.7% to Rs 1,249.19 crore, up from Rs 1,118.59 crore.

Costs grew faster, though. Total expenses climbed 14.7% to Rs 1,256.72 crore.

Materials alone cost Rs 682.78 crore, against Rs 554.76 crore a year ago.

Other income also dropped to Rs 82.62 crore from Rs 127.30 crore. Profit before tax fell to Rs 75.08 crore from Rs 149.91 crore. The two main businesses moved in opposite directions.

Shipbuilding revenue rose to about Rs 783.1 crore from Rs 759 crore, yet the segment slipped into a loss of Rs 6.08 crore.

A year ago, it made a profit of Rs 149.71 crore. Ship repair did far better.

Its revenue rose to Rs 466.05 crore from Rs 359.6 crore, and profit more than doubled to Rs 143.34 crore from Rs 67.20 crore.

Over the first six months of the financial year, profit slipped to Rs 205.22 crore from Rs 295.36 crore. Revenue rose to Rs 2,343.41 crore from Rs 2,187.18 crore.

Shareholders get some relief. The board declared an interim dividend of Rs 3 per share, with a record date of 16 November.

Payment will follow on or before 9 December. Last year’s interim payout was Rs 4 per share, as per NSE data.

At 10:49 am, the stock traded at Rs 1,217.20 on NSE, down Rs 72.80 from its previous close of Rs 1,290.

The share has lost 30.57% over one year and 24.92% so far this year. Its 52-week high stands at Rs 1,842.80, set on 8 May 2026.

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