Mazagon Dock Q1 Results: PAT surges 121% YoY to ₹696 crore; revenue grows by 8.5%.

Mazagon Dock Shipbuilders announced a substantial 121% year-on-year (YoY) growth in profit after tax (PAT), reaching ₹696 crore for the quarter ending in June 2024. During the same period, revenue from operations rose to ₹2,357 crore, an 8.5% increase from ₹2,172.76 crore in the first quarter of the previous financial year.

Mazagon Dock Shipbuilders Q1 Results Highlights

On Wednesday, PSU defense company Mazagon Dock Shipbuilders reported a significant 121% year-on-year (YoY) increase in its profit after tax (PAT), reaching ₹696 crore for the quarter ending June 2024. This marks a substantial rise from ₹314.30 crore in the same quarter of the previous year.

Following the announcement of its first-quarter results, Mazagon Dock share price were trading 3% higher at ₹4,984.80 on the BSE around 3 PM IST.

Revenue from operations during this period amounted to ₹2,357 crore, up 8.5% from ₹2,172.76 crore in the first quarter of the prior financial year.

The company's EBITDA experienced an impressive surge of 273.5% YoY, climbing to ₹642 crore for the June quarter, compared to ₹172 crore in the same quarter the previous year.

EBITDA margins also saw a notable improvement, increasing by 1,934 basis points to 27.3% in the first quarter.

Mazagon Dock's total income rose to ₹2,628 crore, an increase from ₹2,405.42 crore in the corresponding period last year.

The stock of this defense PSU has been on a remarkable upward trend recently, delivering a 114% return to investors in just three months. Over the past year and six months, the shares of Mazagon Dock Shipbuilders have risen by 169% and 132%, respectively. Year-to-date, the stock has appreciated by 119%.

About Mazagon Dock Shipbuilders

Mazagon Dock Shipbuilders Ltd (MDS) is a shipbuilding and offshore fabrication yard, primarily involved in shipbuilding, ship repairs, and the fabrication of offshore structures. The company specializes in providing a range of vessels, including warships, merchant ships, submarines, support vessels, offshore platforms, passenger-cargo vessels, trawlers, and barges. 

Additionally, MDS constructs destroyers, frigates, missile boats, corvettes, submarines, and patrol vessels for the defense sector. Its products and services cater to a broad customer base, including the Indian Navy and the Indian Coast Guard. MDS is headquartered in Mumbai, Maharashtra, India.