Mazagon Dock Shipbuilders reported its earnings for the quarter ended September on Tuesday afternoon. Shares of the company shot up as the numbers were ahead of analyst estimates.
What Happened: The defence shipbuilding company's net profit for the quarter under review stood at ₹585 crore, up 75% from the ₹332.80 crore posted in the same quarter last year.
The company's revenue from operations soared 50% year on year to ₹2,756.83 crore, compared with the ₹1,828 crore posted in the corresponding quarter of the previous year.
On average, analysts expected the company's revenue to jump around 30% to ₹2,398 crore with a net profit of ₹571 crore.
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Earlier in the month, the company announced an interim dividend and a split of its equity shares. The record date for dividend payment was October 30. The stock split is in the 1:2 ratio.
Price Action: Mazagon Dock’s share price was up 2.84%, trading at ₹4,141.20 on Tuesday afternoon.
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