Mazgaon Docks Q1 net profit more than doubles to Rs 696 crore

Mazagon Dock Shipbuilders reported a 121.45% jump in net profit for the quarter ending June to Rs 696.10 crore, helped by sharply lower costs.

Sales for the April-June period rose 8.48% on year to Rs 2,357.02 crore.

Profit before tax and exceptional items was Rs 888.79 crore, up from Rs 383.32 crore year-on-year.


Cost of materials consumed fell to Rs 1,106 crore from Rs 1,433 crore. Additionally, the cost of base and depot spares decreased to Rs 109.2 crore from Rs 214.7 crore.

The company's order book for the quarter stood at Rs 36,839 crore.

Earnings before interest, tax, depreciation and amortization (Ebitda) surged 273.5% to Rs 642 crore from Rs 172 crore, with EBITDA margins improving to 27.3% from 7.9%.

Following the earnings announcement, Mazagon Dock’s stock gained 5.11% to a high of Rs 5,080, before closing 3.40% higher at Rs 4997.10 on the BSE.

Mazagon Dock Shipbuilders Ltd specializes in shipbuilding and offshore fabrication. Its activities include building and repairing ships and fabricating offshore structures. The company offers a range of products, including warships, merchant ships, submarines, offshore platforms, passenger and cargo vessels, trawlers, and various support vessels.