KOCHI: The Cochin Shipyard Ltd (CSL) on Friday maintained that though the railway line at Atlantis Junction is not in use, it could prove to be a crucial element when the yard looks at expansion options in future.
The Shipyard is very conscious of its responsibility to the public and has even permitted the levelling of MG Road over the tracks to permit smooth flow of traffic, the company said.
It was reported that the CSL has not been making much profit over the years and was paying lakhs of rupees for an ‘unused’ railway line here in the city.
Officials with the shipyard clarified that the CSL is one of the best performing shipyards in the country -- in both public and private sectors.
Its turnover increased by nearly five times from `374 crore in 2005-06 to `1,629 crore in 2013-14.
The profit before tax increased by 12 times from `25 crore to `297 crore and net profit by 11 times from `18 crore to `198 crore during the period.
The company has been regularly paying dividend for the last four years.
It even redeemed `119 crore of preference shares to the Union Government.