India's Cochin Shipyard falls most in 3 years as profit drops 86%

Cochin Shipyard

22/05/2023 05:54

** Shares of Cochin Shipyard  COCH.NS  fall as much as 12.2%
to 476.2 rupees - their biggest pct loss since March 23, 2020
    ** Co on Friday reported a 85.7% fall in its quarterly
profit to 393.4 mln rupees ($4.81 mln), rev from ops fell 50.5%
to 6 bln rupees
    ** If trend holds, co on track for third consecutive session
of losses
    ** More than 972,704 shares change hands by 10:08 a.m. IST
vs 1.4x 30-day avg of 679,883 shares
    ** Stock up 2.7% so far this qtr vs 11% decline in Jan-Mar
qtr; down 8.5% YTD 



($1 = 81.7800 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))