Cochin Shipyard announced its Q2 results on Thursday after market close.
What Happened: The public sector company saw its net profit increase 1.1% to ₹193.06 crore. The company’s revenue came in at ₹1,096.98 crore, a 15% increase from the previous quarter.
Analysts at Antique expected net profit to come at ₹199 crore, revenue of ₹1,002 crore and ₹220 crore EBITDA.
See Also: NHPC Q2 Profit Plunges 41% to ₹909 Cr, Misses Estimates
In October, the government had sold 5% of its stake in the defence company through an offer for sale. The government held 72.86% stake in the company in the September quarter.
Price Action: Ahead of results on Thursday, shares of Cochin Shipyard closed 0.64% down to ₹1,527 ahead of the results. The company’s stock has gone up 124.1% so far this year
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