Cochin Shipyard inks pact with AP Moller-Maersk

18 Feb 2025 , 01:58 PM

Cochin Shipyard stated that it has entered into a Memorandum of Understanding (MoU) with AP Moller-Maersk to tap opportunities in ship repair, maintenance, and shipbuilding in India.

The MoU underlines major areas of collaboration that includes technical expertise sharing to achieve global standards in ship maintenance; exploring ship repair, dry docking, and new building opportunities. It shall also include joint training programmes that focuses on responsible practices and skill development initiatives for both the companies, stated the company in its filing with the bourses.

The brokerages highlighted that Cochin Shipyard’s December quarter results were in contrast with expectations as the robust performance in the ship repair segment was offset by hindrances in shipbuilding.

At around 1.51 PM, Cochin Shipyard was trading 1% lower at ₹1,204.15 per piece, against the previous close of ₹1,216.35 on NSE. The counter touched an intraday high and low of ₹1,235, and ₹1,180.20, respectively. 

In its recent quarterly update, the company reported a 27.60% decline in Q3 net profit at ₹177 Crore as compared to ₹244.40 Crore in the previous corresponding period. The company stated that its revenue from operations registered growth of 8.6% in Q3FY25, versus ₹1,056.40 Crore in the same quarter of previous year.

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