Mazagon Dock shares in focus today post Q2 earnings, interim dividend

Shares of Mazagon Dock Shipbuilders Ltd are in news today after the defence firm reported a 56% rise in consolidated net profit at Rs 333 crore in Q2 against Rs 214 crore in the corresponding quarter of the previous year. The board also approved an interim dividend of Rs 15.34 per share for the financial year 2023-24.  Mazagon Dock stock ended flat at Rs 1981.10 on Wednesday against the previous close of Rs 1971.80 on BSE. Total 0.39 lakh shares of the firm changed hands amounting to a turnover of Rs 7.70 crore. Market cap of Mazagon Dock rose to Rs 41,346 crore on BSE.

Mazagon Dock shares have a one-year beta of 1.8, indicating very high volatility during the period.

In terms of technicals, the relative strength index (RSI) of Mazagon Dock stands at 46.9, signaling it's trading neither in the overbought nor in the oversold zone. Mazagon Dock stock stands higher than the 5 day, 10 day, 100 day, 150 day, 200 day but lower than the 20 day, 30 day, 50 day moving averages.

Revenue from operations in Q2 rose 7% year-on-year to Rs 1,828 crore against Rs 1702 crore a year ago. EBITDA or operating profit climbed 50% year-on-year to Rs 177 crore in the quarter.  Net profit rose 6% from Rs 314 crore in the June quarter. Revenue from operations declined 16% quarter-on-quarter. Profit before tax (PBT) in the September quarter rose 53% year-on-year to Rs 407 crore against Rs 261 crore in the corresponding quarter of last year.

The payout for interim dividend will amount to Rs 309 crore, which will be given out of the profits of the company in FY24. The record date for determining the eligibility of shareholders for interim dividend has been fixed as November 20 and the same would be paid on or before December 7.

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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.

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