MUMBAI, 10 AUGUST, 2020 (GPN): A meeting of the Board of Directors of Cochin Shipyard Ltd was held today, to consider and approve the standalone and consolidated unaudited financial results of the Company for the quarter ended June 30, 2020.

The closure of trading window under Code of Internal Procedures and Conduct for Prohibition of Insider Trading in Dealing with the Securities of Cochin Shipyard Limited which had commenced from July 01, 2020 shall end 48 hours after the results are made public on August 10, 2020.

Cochin Shipyard Ltd has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) – QoQ Comparison

The company has reported total income of Rs.396.45 crores during the period ended June 30, 2020 as compared to Rs.861.07 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.41.43 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.137.52 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.3.15 for the period ended June 30, 2020 as compared to Rs.10.46 for the period ended March 31, 2020.

Financials	Q1 FY2020-21	Q4 FY19-20	% Change
Total Income	₹ 396.45 crs	₹ 861.07 crs	-53.96%
Net Profit	₹ 41.43 crs	₹ 137.52 crs	-69.87%
EPS	₹ 3.15	₹ 10.46	-69.89%

Financial Results (Q1 FY 2020-21) – YoY Comparison

The company has reported total income of Rs.396.45 crores during the period ended June 30, 2020 as compared to Rs.804.22 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.41.43 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.119.07 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.3.15 for the period ended June 30, 2020 as compared to Rs.9.05 for the period ended June 30, 2019.

Financials	Q1 FY2020-21	Q1 FY2019-20	% Change
Total Income	₹ 396.45 crs	₹ 804.22 crs	-50.7%
Net Profit	₹ 41.43 crs	₹ 119.07 crs	-65.21%
EPS	₹ 3.15	₹ 9.05	-65.19%

Shares of Cochin Shipyard Ltd was last trading in BSE at Rs.331.25 as compared to the previous close of Rs. 324.4. The total number of shares traded during the day was 30649 in over 1147 trades.

The stock hit an intraday high of Rs. 336.3 and intraday low of 324.55. The net turnover during the day was Rs. 10165767.

The Group’s operations and financial results for the quarter ended June 30, 2020, have been adversely impacted by the outbreak of COVID-19. The pandemic had prompted a lockdown resulting in a temporary disruption of operation of the Group from March 23, 2020 to May 5, 2020. The Group continued to work on a reduced time scale for a significant period of the Quarter which further effected the financial results of the Group for the current Quarter. The Group has looked at the possible future uncertainties in the economic conditions because of the pandemic from internal and external information such as the current contracts, financial strength of the supply chains and customers etc. Based on such information and based on current estimates the Group expects the carrying amount of these assets will be recovered and there is no significant impact on liabilities accrued. The impact of COVID-19 may differ from that estimated as at the date of approval of these financial results and the Group will continue to closely monitor any material changes to future economic conditions. ENDS