Mazagon Dock reports 56% y-o-y growth in net profit at Rs 333 crore

9 Nov 2023 , 10:30 AM

Mazagon Dock reported a 56% increase in its total net profit to Rs 333 crore for the quarter ending September 2023 on Wednesday. In the previous year’s same quarter, the figure was Rs 214 crore.

During the reporting quarter, revenue from operations climbed 7% year on year to Rs 1,828 crore, up from Rs 1,702 crore in the previous corresponding quarter.

In the third quarter, EBITDA or operational profit increased by 50% year on year to Rs 177 crore, while margins improved to 9.7%. 

For the fiscal year 2023-24, the Board has recommended an interim dividend of Rs 15.34 per share. The payout would be Rs 309 crore, which will be reduced from the company’s earnings in FY24. The record date for establishing shareholder eligibility for the dividend has been set as November 20, and the dividend will be paid on or before December 7.

Net profit increased 6% year-on-year from Rs 314 crore in the previous June quarter. Revenue from operations, on the other hand, fell 16% year-on-year. Profit before tax (PBT) grew 53% year on year to Rs 407 crore in the reporting quarter. In the same quarter of the previous year, it stood at Rs 261 crore.

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