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Cochin Shipyard shares fall 7% after Q2 profit drop
GreyOak summary
Cochin Shipyard Ltd. shares declined 7.4% following Q2 results showing a 50% year-on-year drop in consolidated net profit to Rs 53.8 crore. Despite revenue growing 11.7% to Rs 1,249 crore, operating margins contracted to 4.1% due to losses in the shipbuilding segment. The company declared an interim dividend of Rs 3 per share.
What it affects
- Cochin ShipyardCOCHINSHIPNegative -66
Stock fell 7% as profit dropped 50%Rolling sentiment Negative -58
Source
Read the original at NDTV ProfitMore Cochin Shipyard news
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