Mazagon Dock Shipbuilders rallied 4.43% to Rs 2,211.15 after the company' consolidated net profit jumped 76.97% to Rs 626.78 crore in Q3 FY24 as compared with Rs 354.16 crore posted in Q3 FY23.
Revenue from operations climbed 30.10% YoY to Rs 2,362.47 crore in Q3 FY24.The firm reported profit before tax of Rs 786.23 crore in Q3 FY24, registering a growth of 74.04% as compared Rs 451.73 crore posted in same period a year ago.
Total expenses increased 19.79% to Rs 1,844.8 crore in Q3 FY24 as compared with Rs 1,540 crore in Q3 FY23. Cost of materials consumed was at Rs 987.24 crore (up 30.97% YoY), Employees benefit expenses stood at Rs 222.34 crore (up 12.37% YoY), while finance Cost was at Rs 1.29 crore (down 12.83% YoY) during the period under review.
On nine months basis, the company's consolidated net profit jumped 60.68% to Rs 1,274 crore on 10.68% increase in revenue from to Rs 6,362.9 crore in 9M FY24 over 9M FY23.
Mazagon Dock Shipbuilders is principally engaged in building and repairing of ships, submarines, various types of vessels and related engineering products for its customers.
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