Cochin Shipyard pays dividend for the sixth consecutive year
Cochin Shipyard Limited (CSL), a Schedule B Minirat na PSU under the Ministry of Shipping, paid a dividend of Rs 16.99 crores to Government of India here today, the company said in its press release. The Company is paying dividend for the sixth consecutive year.
The dividend is of Rs 1.5 per Equity Share on the 11,32,80,000 fully paid equity shares of Rs 10 each. In addition, the yard has also contributed Rs 162.10 crores to the exchequer by way of Value Added Tax, Income Tax, Fringe Benefit Tax, Excise Duty, Customs Duty and Service Tax during the year 2013-14.
Cochin Shipyard’s turnover has increased five fold from Rs. 373 crores in 2005-06 to Rs. 1637 crores in 2013-14. Likewise the Net Profits have more than doubled during the period from Rs. 94 crores to Rs. 194 crores. Considering the sluggish market, CSL performed creditably by posting an increase of 5% , both in turnover which increased from Rs 1554 crores in 2012-13 to Rs 1637 Crores this year and in net profit which was up from Rs 185 Crores in 2012-13 to Rs 194 Crores this year.
