Mazagon Dock Shipbuilders shares jump 4% post Q3 results; key details

Shares of Mazagon Dock Shipbuilders Ltd reversed losses and were up 4 per cent higher in Friday's trade after the state-run company reported a 28.75 per cent year-on-year (YoY) rise in consolidated net profit at Rs 807.04 crore for the December quarter compared with Rs 626.78 crore in the same quarter its year. 
The consolidated revenue from operations (excluding other income) for the quarter rose 33 per cent to Rs 3,143.62 crore from Rs 2,362.47 crore in the corresponding quarter last year. Total expenses for the quarter stood at Rs 2,367 crore against Rs 1,844 crore in the same quarter last year. The management team of the company will be hosting earnings call later today at 5 pm.

Mazagon Dock shares rose 3.54 per cent to hit a high of Rs 2,275.25 on BSE. The stock hit a low of Rs 2,172 earlier today.

Mazagon Dock plans to provide one destroyer, one frigate, and a submarine in FY25. Its order book was recorded at Rs 39,800 crore as of 2QFY25. Potential significant projects include the P75-I submarines, four P17A stealth frigates, four next-generation destroyers, and the P17 Bravo project. It has secured a contract worth Rs 19,900 crore from the Ministry of Defence to construct an Air Independent Propulsion Plug to improve conventional submarines' endurance, Nirmal Bang said earlier.