Two youngsters part of a four-member group drowned in Andhakaranazhi Beach in the district on Sunday.
The condition of one of the two men rescued by locals remains critical, according to reports.
The deceased are Akash, 25, a native of Changanassery and Anand (25) of Eramallur.
The incident occurred at 6 pm Sunday when the youngsters, who are employees of a private firm in Eramallur, had ventured into the sea for a swim.
Those rescued by the fishermen were shifted to the Medical College Hospital in Alappuzha.