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Mazagon Dock Q2 Results: Net Profit Up 75.7% to ₹585.08 Crore; Revenue Rises 50.8%; Key Highlights Inside

Mazagon Dock Q2 Results: Mazagon Dock Shipbuilders achieved a 75.7% YoY increase in net profit to ₹585.08 crore, with revenue from operations rising 50.8% to ₹2,756.83 crore.
Mazagon Dock Q2 Results: Net Profit Up 75.7% to ₹585.08 Crore; Revenue Rises 50.8%; Key Highlights Inside

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.

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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.

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