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Mazagon Dock Shares Rally 5% on Stellar Q3 Earnings

The company reported a 77% YoY increase in consolidated net profit to Rs 626.8 crore.

Shares Mazagon Dock Shipbuilders Ltd rallied 5% during the closing hours on 12 February after the company announced its quarterly report for October-December.

In its quarterly earnings, the company reported a 77% year-on-year increase in consolidated net profit to Rs 626.8 crore for the quarter under review from Rs 354 crore reported in the same quarter last year.

The revenue from operations for the quarter stood at Rs 2,362.5 crore, marking a 30% YoY increase from Rs 1,815.9 crore reported in the same quarter of the previous fiscal year.

The quarter’s EBITA (earnings before interest, taxes, depreciation and amortisation) stood at Rs 539 crore, marking an 82% YoY increase, whereas the EBITDA margin expanded to 22.8% for Q3FY24.

Furthermore, on 8 November 2023, the company also announced an interim dividend of Rs 15.34 per share for the current fiscal year, which will be paid in December 2023.

At 3:30 pm, the shares of Mazagon Dock closed 4.56% higher at Rs 2,213.90 on NSE.

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