📈 Colombo Dockyard Turns Profitable in Q1 2026 as Ship Repairing Surges

• Overall Financial Performance: - Profitability: Net Profit After Tax reached Rs. 80.2 Mn for the quarter ended 30 June 2026, reversing a Rs. 813.4 Mn loss YoY. Profit attributable to owners stood at Rs. 86.3 Mn (EPS: 22 cents). - Revenue & Margins: Revenue fell 6.8% YoY to Rs. 5.84 Bn, but cost of sales dropped 21.8% to Rs. 4.63 Bn, boosting gross profit by 250.7% to Rs. 1.21 Bn (GP margin: 20.7% vs. 5.5% YoY). - Finance Burden: Net finance expenses fell 63.8% YoY to Rs. 188.2 Mn. - Balance Sheet: Total equity grew to Rs. 15.59 Bn, stated capital reached Rs. 13.65 Bn, total assets stood at Rs. 42.58 Bn, and cash reserves reached Rs. 8.48 Bn. • Sector Breakdown: - Ship Repairing: Primary performance driver with revenue surging 48.4% YoY to Rs. 3.95 Bn and gross profit more than doubling to Rs. 1.46 Bn. - Shipbuilding: Continued facing market challenges, though gross loss narrowed significantly to Rs. 378.8 Mn from Rs. 899.6 Mn YoY. • Strategic Alignment: - Financial turnaround marks the company's 52nd anniversary and first quarter under a revised financial year aligned with parent entity Mazagon Dock Shipbuilders Ltd (holding a 51% stake). - Key focus remains on operational resilience and sustaining Sri Lanka's maritime & heavy engineering industries.