Newly-listed Cochin Shipyard has posted weaker second quarter profit as costs rose.
The company said net earnings to 30 September were INR 1bn ($15.27m), down from INR 1.09bn a year ago.
Revenue grew to INR 6.48bn from INR 5.86bn, but costs rose more quickly to INR 5bn from INR 4.2bn.
Cochin will spend its $229m IPO cash windfall on four new shipbuilding and repair yards.
