Cochin Shipyard stock rises after upbeat first-quarter results

Cochin Shipyard shares soared on Monday in the first trading session after the company reported its first-quarter results on Friday. The company's shares are trading 3.53 per cent higher at Rs 668.50 on Monday morning. 

The company's share price has soared 35.68 per cent in the last six months, while it has skyrocketed to as high as 99.79 per cent in the last one year.

The headline index of Nifty 50 in the last six months has jumped 7.73 per cent, while it has risen 8.36 per cent in the last one year.  

The company reported on Friday a 135 per cent jump in its consolidated profit, which rose to Rs 98.65 crore in the quarter under review from Rs 42 in the corresponding quarter last year.

The company's revenue from operations also jumped 7.9 per cent to Rs 475.9 crore in the first quarter of the current financial year from Rs 440.9 crore in the corresponding period last year.

Cochin Shipyard informed the exchanges on Friday that it had been declared L1 (lowest bidder) by the Indian Navy for the MR/mid-life upgrade of an Indian Naval Ship.