Mazagon Dock Q3 Results: Defence PSU gains as net profit surges 29% YoY

Mazagon Dock Ltd, which is state-run, reported strong performance in the December quarter, driven by significant revenue growth and improved profitability. The company's net profit increased by 29% year-on-year, reaching Rs 807 crore, compared to Rs 627 crore during the same period last year. This growth was fueled by higher delivery volumes and robust order inflows. 

Revenue rose by 33%, totaling Rs 3,143 crore, up from Rs 2,362.5 crore in the third quarter of FY23. This reflects consistent execution across its various projects.

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Operationally, the company also achieved a remarkable improvement in profitability, with earnings before interest, tax, depreciation, and amortization (EBITDA) soaring by 51.4% year-on-year to Rs 817 crore, compared to Rs 539 crore a year ago.

Additionally, the EBITDA margin expanded to 26%, up from 23% in the same period last year, due to enhanced efficiency and effective cost management.

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Shares of Mazagon Dock Shipbuilders reacted positively to the earnings announcement, gaining 3.5% on the BSE to trade at Rs 2,274.50.

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