FINANCIAL CHRONICLE — Colombo Dockyard PLC (DOCK) in Sri Lanka announced a profit of 86.28 million rupees for the quarter that concluded on June 30, 2026. This marks a significant recovery from the substantial loss of 808.36 million rupees reported during the same quarter in the previous year.
For this three-month period, the company generated earnings of 0.22 rupees per share, a notable improvement compared to a loss per share of 3.51 rupees seen in the second quarter of 2025.
Despite the profit, overall revenue for the quarter decreased by 6.8% to 5.84 billion rupees, down from 6.27 billion rupees in 2025. The decline was primarily attributed to the Shipbuilding segment, which saw revenues drop to 1.05 billion rupees, while the Ship Repairing segment performed better, contributing 3.95 billion rupees to the total revenue.
The gross profit experienced a remarkable increase of 250.7%, reaching 1.21 billion rupees. This growth was bolstered by a significant reduction in net finance costs, which decreased by 63.8% to 188.20 million rupees from 519.98 million rupees a year earlier.
As of June 30, 2026, the group’s total assets were valued at 42.58 billion rupees, while the stated capital rose to 13.65 billion rupees, following the full utilization of 12.93 billion rupees raised through a Rights Issue aimed primarily at settling loans.
During the quarter, the group experienced a net decline in cash and cash equivalents, totaling 481.80 million rupees. This decline was influenced by net cash utilized in operating activities amounting to 678.09 million rupees, despite the company receiving 259.30 million rupees from loans during the period.
In a strategic move, the company recently adjusted its financial year-end to March 31, aligning it with its new parent company, Mazagon Dock Shipbuilders Limited. Management indicated that interest costs of 42.37 million rupees related to shipbuilding projects were charged to the cost of sales for the quarter.
On the stock market, shares of the company closed at 119.00 rupees, reflecting an increase of 0.85 percent. (Colombo/July 27/2026)
