Cochin Shipyard Ltd

Cochin Shipyard Ltd.

The country’s largest commercial shipbuilder Cochin Shipyard Ltd (CSL) on Friday reported a 55 percent growth in consolidated profit to Rs 236.21 crore for the March 2021 quarter.

The company had posted a profit of Rs 152.37 crore in the March 2020 quarter, according to a regulatory filing.

Its total income during January-March 2021 jumped 37 per cent to Rs 1,148.24 crore, compared with Rs 861.07 crore in the year-ago period.

Total expenses spiked 26 per cent to Rs 856.41 crore in the fourth quarter of 2020-21, against Rs 677.77 crore a year ago.

For the full financial year 2020-21, the profit declined 3.68 per cent to Rs 608.66 crore as against a profit of Rs 632 crore in 2019-20.

Its total income also contracted by 17 per cent to Rs 3,009.72 crore in the last financial year, compared with Rs 3,667.57 crore a year ago.

The company in a statement said the pandemic-induced lockdown resulted in a temporary disruption in the company’s operations from March 23, 2020, to May 5, 2020.

The firm continued operations on a reduced time scale during the first quarter, which affected the financials during that quarter.

From second quarter onwards, the company extended hours of operations by working in two shifts. This impacted depreciation to the tune of Rs 3.88 crore during the year ended March 31, 2021.

The company has looked at the possible future uncertainties in the economic conditions due to the pandemic from internal and external information, such as current contracts, financial strength of the supply chains and customers, it stated.

Based on such information and current estimates, CSL expects the carrying amount of these assets will be recovered and there is no significant impact on liabilities accrued, it said.


Japan travel news, japan travel guides, japan holiday destinations and japan reviews

LATEST NEWS

NEWS RELATED

NSDL says accounts of foreign funds invested in Adani companies are not frozen

The accounts of three foreign funds that are big stakeholders of Adani group companies are not frozen, a top official of the National Securities Depository Ltd (NSDL) informed the port-to-energy conglomerate. Reports of a freeze on the accounts sent shares of several Adani group companies tumbling on Monday.“The status of…

Read more: NSDL says accounts of foreign funds invested in Adani companies are not frozen

We are on course to clock Rs 100 crore from honey brand this year: Marico CFO Pawan Agrawal

Pawan Agrawal, Chief Financial Officer, Marico Limited FMCG major Marico is dealing with inflationary pressure which has squeezed margins, and challenges from Dabur since it entered the honey segment. In a conversation with Moneycontrol, Pawan Agrawal, CFO, Marico, talks about how the company is tackling both of these, the impact…

Read more: We are on course to clock Rs 100 crore from honey brand this year: Marico CFO Pawan Agrawal

RBI releases consultative document on microfinance regulation; no pre-payment penalty proposed

The Reserve Bank of India (RBI) on June 14 released a consultative document on uniform regulation for companies engaged in microfinance business. The document aims at harmonising the regulatory frameworks for various regulated lenders in the microfinance space, the RBI said. The key proposals include a common definition of microfinance loans for…

Read more: RBI releases consultative document on microfinance regulation; no pre-payment penalty proposed

After UCO Bank, IOB requests RBI to remove prompt corrective action tag

Indian Overseas Bank | Brickwork Ratings India assigned its rating of ‘BWR AA-/Stable’ for the proposed issue of Rs 500 crore Basel III Tier II bonds. Chennai-based Indian Overseas Bank (IOB) has requested the Reserve Bank of India (RBI) to take it out of the so-called prompt corrective action (PCA)…

Read more: After UCO Bank, IOB requests RBI to remove prompt corrective action tag

Flipkart Wholesale witnesses heightened digital adoption among kiranas

Representative image Flipkart Wholesale, the B2B arm of the e-commerce marketplace, has witnessed increased digital adoption by the general trade merchants or kiranas since January, especially, from tier II and III cities. “Best Price cash-and-carry business has seen a 3x increase in e-commerce adoption among kiranas in tier II and…

Read more: Flipkart Wholesale witnesses heightened digital adoption among kiranas

Why Bharat Biotech's Covaxin remains expensive in private markets?

The NASDAQ-listed Ocugen has rights to commercialise Covaxin in the US. Bharat Biotech International’s Chairman and Managing Director Krishna Ella famously said at a panel discussion in Hyderabad last year that Indian vaccine makers were supplying shots at a price that’s less than the cost of water, gesturing with a…

Read more: Why Bharat Biotech's Covaxin remains expensive in private markets?

Lupin gets UK nod to launch generic asthma inhaler drug Fostair

Lupin | Company received approval from USFDA for Sulfamethoxazole and Trimethoprim Oral Suspension, which is used to treat bacterial infections. Lupin’s UK subsidiary, Lupin Healthcare (UK), has received the drug regulator Medicines and Healthcare products Regulatory Agency’s approval to market Luforbec, the first branded generic of asthma inhalation drug Fostair, the…

Read more: Lupin gets UK nod to launch generic asthma inhaler drug Fostair

We are on course to clock Rs 100 crore from honey brand by the next year: Marico CFO Pawan Agrawal

Pawan Agrawal, Chief Financial Officer, Marico Limited FMCG major Marico is dealing with inflationary pressure which has squeezed margins, and challenges from Dabur since it entered the honey segment. In a conversation with Moneycontrol, Pawan Agrawal, CFO, Marico, talks about how the company is tackling both of these, the impact…

Read more: We are on course to clock Rs 100 crore from honey brand by the next year: Marico CFO Pawan Agrawal

Why Adani shares fell, why the FPI accounts were frozen and what are Sebi’s KYC rules, explained

News Analysis | Karnataka HC order throws spotlight on Amazon’s FDI rule violations

We are on course to clock Rs 100 crore from honey brand by the next year: Marico CFO Pawan Agarwal

Banking Central: Which are the next pain points for banks?

Amara Raja to invest in lithium-ion batteries, expand current business verticals

Natco Pharma's marketing partner gets USFDA nod for anti-cancer drug

RattanIndia Power pares Rs 1,219 crore debt in last 15 months

Tata Motors to raise up to Rs 500 crore via securities

OTHER NEWS