Mazagon Dock Shipbuilders Limited (MDL) on Tuesday (November 5) announced its financial results for the quarter ending September 30, 2024, the company announced through an exchange filing.

Following the announcement, the company’s shares marked a notable surge of 6.73 per cent, reaching Rs 4,287.25 by 1:59 PM IST. This sudden surge in the share price of the company came after the company released its Q2FY25 results.

Financial Overview

Consolidated Financial Performance

In its consolidated results, Mazagon Dock reported a total income of Rs 3,01,111 lakh, marking an uptick from Rs 2,07,918 lakh in the previous year. This also marks an year-on-year (YoY) growth of approximately 45 per cent.

The total expenses also rose to Rs 2,27,062 lakh, compared to Rs 1,67,254 lakh YoY.

The profit for the period stood at Rs 58,508 lakh, markig an increase from Rs 33,288 lakh in the same quarter last year, which is equivalent to a profit growth of nearly 76 per cent YoY.

Standalone Financial Highlights

On a standalone basis, MDL’s financial results also reported equally on a positive note.

The company reported a total income of Rs 3,02,210 lakh, compared to Rs 2,08,825 lakh a year ago, a YoY growth of around 45 per cent.

The total expenses remained at Rs 2,27,062 lakh, similar to the consolidated figures.

Furthermore, the standalone profit surged to Rs 56,375 lakh, up from Rs 31,208 lakh last year, a staggering increase of 80 per cent.

Market Response and Share Performance

The announcement of these financial results has had a positive impact on MDL’s stock.

The shares of the company post the Q2 earnings surged over 6 per cent.

The shares opened at Rs 4,027.00, hitting a high of Rs 4,325.00 and a low of Rs 3,986.60 during trading.

The market capitalisation the company stood at Rs 86.64K Cr. The company posts a P/E ratio of 37.39, with a dividend yield of 0.82 per cent.