Cochin Shipyard shares tumble 8% after weak Q2 show

COCHINSHIP Cochin Shipyard Limited fell as much as 8% in early trade on Wednesday after the Miniratna PSU reported a sharp drop in profitability for the July-September quarter of FY27, despite higher revenue. The stock touched an intraday low near Rs 1,187 against the previous close of Rs 1,***** net profit nearly halved to about Rs 54 crore from Rs 108 crore a year earlier. Revenue from operations rose nearly 12% to Rs 1,249 crore. EBITDA declined around 31% to Rs 51 crore, with the margin contracting to 4.1% from 6.6%. The shipbuilding segment swung to a PBIT loss of Rs 6.1 crore, while the ship-repair business delivered strong growth and higher profits. The board declared an interim dividend of Rs 3 per share (face value Rs 5), with a record date of November 16.