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Mazagon Dock Shipbuilders reported a big increase in its financial results for the quarter that ended on September 30, 2024. Their net profit rose by 75.7% compared to last year, reaching ₹585.08 crore, up from ₹332.88 crore in the same period last year.

Revenue from operations also saw a significant rise of 50.8%, totaling ₹2,756.83 crore, compared to ₹1,827.70 crore a year earlier. The basic and diluted earnings per share (EPS) increased to ₹29.01 from ₹16.50 in the September 2023 quarter.

The company's total income rose by 44.8%, reaching ₹3,011.11 crore, up from ₹2,079.18 crore last year. Earnings before interest, tax, depreciation, and amortization (EBITDA) jumped to ₹510 crore, a significant increase from ₹176 crore in the same quarter last year. The EBITDA margin also more than doubled, rising to 18.5% from 9.6%.

Mazagon Dock Shipbuilders Limited (MDL) is a public sector company that builds and repairs ships and submarines for the Indian Navy and other clients. Located in Mazagaon, Mumbai, it is managed by the Ministry of Defence, and the Government of India owns 84.83% of the company. MDL started as a private limited company in 1934 and became a government undertaking in 1960, quickly becoming a leading shipbuilding yard in India.

After announcing these results, shares of the company rose nearly 7% to ₹4,304.05 on the Bombay Stock Exchange (BSE). The company has a market capitalization of ₹86,928.39 crore. Year-to-date, the shares of Mazagon Dock Shipbuilders have increased over 87%, and in the past 12 months, the stock price has gone up by 120%.

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