Mazagon Dock Shipbuilders reported 32.3% fall in consolidated net profit to Rs 141.37 crore on 19.3% decline in net sales to Rs 1461.09 crore in Q3 FY21 over Q3 FY20.
Profit before tax in Q3 December 2020 stood at Rs 160.37 crore, down by 39.6% from Rs 265.54 crore in Q3 December 2019. Current tax expense during the quarter fell 42% year-on-year (YoY) to Rs 45.56 crore.
Mazagon Dock Shipbuilders, a public sector undertaking under the Ministry of Defence (MoD), is engaged in the construction and repair of warships and submarines for use by the Indian Navy and other vessels for commercial clients. The company was conferred with the 'Mini-ratna-I' status in 2006 by the Department of Public Enterprises.
The scrip slipped 3.19% to end at Rs 224.45 on Friday.
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