Mazagon Dock Shipbuilders surged 10.58% to Rs 3,358.20 after the company' consolidated net profit soared 102.97% to Rs 662.07 crore in Q4 FY24 as compared with Rs 326.19 crore posted in Q4 FY23.
Revenue from operations climbed 49.32% year on year (YoY) to Rs 3,103.65 crore in the quarter ended March 2024.The firm reported profit before tax of Rs 848.64 crore in March 2024 quarter, registering a growth of 112.41% from Rs 399.53 crore posted in same period a year ago.
Total expenses spiked 37.74% to Rs 2,603.73 crore in Q4 FY24 over Q4 FY23. Cost of materials consumed was at Rs 1,727.56 crore (up 25.47% YoY), employees benefit expenses stood at Rs 225.71 crore (up 7.88% YoY), while procurement of base and depot spares was at Rs 370.61 crore (up 304.33% YoY) during the period under review.
EBITDA grew 106.87% to Rs 873 crore in Q4 FY24 as against Rs 422 crore in same period last year.
Operating margin climbed to 16.11% in Q4 FY24 from 9.06% posted in corresponding quarter previous fiscal.
On full year basis, the company's consolidated net profit jumped 73.09% to Rs 1,936.97 crore on 20.94% increase in revenue from operations to Rs 9,466.58 crore in FY24 over FY23.
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The order book stood at Rs 38,561 crore as on 31 March 2024.
Meanwhile, the board recommended final dividend of Rs 12.11 per equity share for FY 2023-24, subject to the approval of the shareholders.
Mazagon Dock Shipbuilders is principally engaged in building and repairing of ships, submarines, various types of vessels and related engineering products for its customers.
The counter hit an all time high of Rs 3,400.35 in todays intraday session.
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