The US government and Mazagon Dock sign a master ship repair arrangement

8 Sep 2023 , 11:37 AM

Following the signing of a master ship repair agreement (MSRA) with the US Government, represented by NAVSUP Fleet Logistics Centre (FLC) Yokosuka, Mazagon Dock Shipbuilders (MDL) shares increased 8% to reach a 52-week high of Rs 2,246.95 in the early session on September 8.

There are just two shipyards in the nation that have signed the non-financial MSRA, together with the corporation. The agreement is anticipated to enable US Navy Ship voyage maintenance at MDL.

The company’s consolidated net profit for the three months ending in June 2023 increased by 40% year over year to Rs 314.34 crore, while sales decreased by 3% to Rs 2,172.76 crore and EBITDA decreased by 1% to Rs 171.69 crore.

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