Mumbai: Mazagon Dock Shipbuilders Limited reported an 8.7 percent sequential rise in consolidated net profit to Rs 877.6 crore in the third quarter ended December 31, 2025 (Q3 FY26), driven by stronger execution and higher billing. Revenue from operations increased 14.6 percent quarter-on-quarter to Rs 3,601.1 crore.
Compared with Rs 807.4 crore profit in Q2 FY26 and Rs 807.4 crore in Q3 FY25, the company sustained steady earnings growth alongside expanding topline momentum.
The state-owned defence shipbuilder posted consolidated total income of Rs 3,601.1 crore in Q3 FY26, up from Rs 3,143.6 crore in the previous quarter. Net profit after tax improved to Rs 877.6 crore from Rs 807.4 crore in Q2 FY26. On a year-on-year basis, both revenue and profit recorded identical growth rates, reflecting consistent execution across quarters. Earnings before tax stood at Rs 1,119.6 crore during the quarter.
Sequential growth builds
Quarter-on-quarter performance was supported by higher operating activity, though expenses also rose in tandem. Total expenses increased to Rs 2,723.5 crore in Q3 FY26 from Rs 2,336.2 crore in Q2 FY26, reflecting elevated production and project-related costs. Despite the higher cost base, profitability expanded, with basic earnings per share rising to Rs 21.81 from Rs 20.01 in the previous quarter, indicating operating leverage.
Management commentary and key drivers
The results were approved by the board on February 5, 2026. During the quarter, the company declared an interim dividend of Rs 7.50 per equity share, with February 13, 2026 fixed as the record date. Mazagon Dock continues to benefit from a robust defence order book and stable execution cycles, supporting predictable quarterly earnings.
Nine-month performance
For the nine months ended December 31, 2025, Mazagon Dock reported consolidated revenue of Rs 9,155.9 crore, up 10.9 percent from Rs 8,257.5 crore in the corresponding period last year. Net profit for the period stood at Rs 2,078.3 crore, largely stable compared with Rs 2,085.2 crore in 9M FY25, reflecting margin normalization after a strong previous year.
Disclaimer: This news summary is based on unaudited financial results released by the company. Figures are subject to statutory audit and should not be construed as investment advice or forward-looking guidance.
