Cochin Shipyard has announced the start of commercial operations at its International Ship Repair Facility (ISRF) in Kochi.

What Happened: The company declared the initiation of operations at the ISRF on Monday evening, following the successful docking of the vessel ‘HSC Parali’ of the Union Territory of Lakshadweep Administration.

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The ISRF, a ₹970 crore project, is located on a 42-acre leased premises of the Cochin Port Authority at Willingdon Island, Kochi. The facility, equipped with a 6,000T ship-lift, six workstations, and approximately 1,400 metres of berths, can handle vessels of a maximum of 130 metres in length and repair six such vessels at the dry-workstations simultaneously.

Earlier in the month, the defence major reported its earnings for the quarter ended June. The company recorded a 65.3% year-on-year rise in net profit to ₹180.84 crore in the June quarter, with operational revenue jumping 59.83% to ₹709.84 crore. The company's ship-building revenue rose 58.25% year on year to ₹465.06 crore while the ship repair revenue increased by 62.88% to ₹244.77 crore.

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