Cochin Shipyard reports robust PAT growth
Cochin Shipyard reported standalone revenue for the quarter at Rs. 615 crore, registering 5.7% yoy increase.
EBITDA for the quarter rose by 21.6 per cent yoy to Rs. 137.2 crore with a corresponding margin expansion of 292 bps. EBITDA margin for the quarter stood at 22.3 per cent. This margin expansion was aided by lower sub-contract and other expenses in proportionate to sales (9.6 per cent in Q3FY18 vs 13.9 per cent in Q3FY17).
The PAT for the quarter came in at Rs. 113.8 crore, yoy increase of 25.9%. This was due to 36.1 per cent yoy increase in other income.
The stock of Cochin Shipyard traded cautious ahead of its quarterly result and remained flat during entire today's trading session. The stock openend today at Rs. 520.2 and closed for the day at Rs. 521.85.