Mazagon Dock Shipbuilders reported its earnings for the quarter ended June on Wednesday evening.
What Happened: Mazdock reported a net profit of ₹665.94 crore in the April to June period, a 132% jump from ₹286.62 crore reported in the same period last year.
Revenue from operations stood at ₹2,357.02 crore, jumping 8.5% from ₹2,172.26 crore reported in the corresponding quarter in 2023. The company's total income came in at ₹2,628.02 crore.
Shares of the defence company surged as soon as the results were announced.
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The defence major is anticipated to demonstrate strong growth in both revenue and profit. Analysts at Antique Broking projected revenue standalone reaching ₹3,407 crore, with net profit expected to come in at ₹579 crore in the April-June quarter.
On the other hand, analysts at Nirmal Bang have a more conservative outlook. They estimated the company’s revenue to rise by 35% year-on-year to ₹2,933 crore, with profit expected at ₹491.1 crore.
Price Action: Mazdock’s share price was to close on Wednesday.
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