Mazagon Dock Q2 earnings: Net profit rises 76%, stock gains
Mazagon Dock Q2 earnings: Net profit climbed to Rs 585 crore in the last quarter against Rs 333 crore in the September 2023 quarter.
- Nov 5, 2024,
- Updated Nov 5, 2024 2:07 PM IST
Mazagon Dock Shipbuilders Ltd reported a 76% rise in net profit for the September 2024 quarter today. Profit climbed to Rs 585 crore in the last quarter against Rs 333 crore in the September 2023 quarter. Revenue rose 51% to Rs 2757 crore in Q2 against Rs 1828 crore in the Q2 of the previous fiscal. EBITDA climbed 189% to Rs 511 crore in the September 2024 quarter against Rs 177 crore in the September 2023 quarter. EBITDA margins rose 886 bps to 18.5% in Q2 against 9.7% on a year-on-year basis.
The earnings were announced during market hours. Mazagon Dock stock gained 7.42% to a high of Rs 4325.90 after the earnings were announced. Market cap of the firm climbed to Rs 86,920 crore. The stock saw a turnover of Rs 43.54 crore with 1.08 lakh shares changing hands in the afternoon session.
About the company
Mazagon Dock Shipbuilders Ltd (MDS) is a shipbuilding and offshore fabrication yard. The company's major activities include shipbuilding, ship repairs and fabrication of offshore structures. It provides warships, merchant ships, submarines, support vessels, offshore platforms, passenger cum cargo vessels, trawlers, main and helidecks and barges.
Mazagon Dock Shipbuilders Ltd reported a 76% rise in net profit for the September 2024 quarter today. Profit climbed to Rs 585 crore in the last quarter against Rs 333 crore in the September 2023 quarter. Revenue rose 51% to Rs 2757 crore in Q2 against Rs 1828 crore in the Q2 of the previous fiscal. EBITDA climbed 189% to Rs 511 crore in the September 2024 quarter against Rs 177 crore in the September 2023 quarter. EBITDA margins rose 886 bps to 18.5% in Q2 against 9.7% on a year-on-year basis.
The earnings were announced during market hours. Mazagon Dock stock gained 7.42% to a high of Rs 4325.90 after the earnings were announced. Market cap of the firm climbed to Rs 86,920 crore. The stock saw a turnover of Rs 43.54 crore with 1.08 lakh shares changing hands in the afternoon session.
About the company
Mazagon Dock Shipbuilders Ltd (MDS) is a shipbuilding and offshore fabrication yard. The company's major activities include shipbuilding, ship repairs and fabrication of offshore structures. It provides warships, merchant ships, submarines, support vessels, offshore platforms, passenger cum cargo vessels, trawlers, main and helidecks and barges.