Mazagon Dock Q2 Results: Mazagon Dock Shipbuilders reported a remarkable 75.7% year-on-year increase in its consolidated net profit, reaching ₹585.08 crore for the quarter ending September 30, 2024, compared to ₹332.88 crore in the same period last year.
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The company’s revenue from operations surged by 50.8%, amounting to ₹2,756.83 crore, up from ₹1,827.70 crore in the previous year’s quarter. Total income rose by 44.8% to ₹3,011.11 crore, compared to ₹2,079.18 crore in the corresponding quarter of the last fiscal year.
Basic and diluted earnings per share (EPS) also saw significant growth, increasing to ₹29.01 from ₹16.50 in September 2023. Earnings before interest, tax, depreciation, and amortisation (EBITDA) for the quarter climbed to ₹510 crore, a substantial rise from ₹176 crore in the same quarter last year.
The EBITDA margin more than doubled, improving to 18.5% from 9.6% year-on-year. Mazagon Dock Shipbuilders, a public sector undertaking (PSU) based in Mumbai, focuses on constructing and repairing vessels for the Indian Navy and other clients.
Following the announcement of its results, the company’s shares traded nearly 7% higher at ₹4,304.05 on the BSE, with a market capitalisation of ₹86,928.39 crore. Year-to-date, Mazagon Dock’s shares have soared over 87%, and in the past year, the stock price has risen by 120%. Additionally, the company announced a stock split and an interim dividend of ₹23.19 per share, marking its first participation in a stock split, with the record date for the dividend payout set for October 30.
