Mazagon Dock Shipbuilders shares climb nearly 4% after earnings

PTIUpdated: Friday, June 11, 2021, 11:57 AM IST
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Mumbai: Khanderi – the second of the Scorpene class submarines was launched at the Mazgaon Dock Shipbuilders Limited (MDL) by the minister of state for defence, Dr Subhash Bhamre on Thursday. | BL Soni

Shares of Mazagon Dock Shipbuilders gained nearly 4 per cent in early trade on Friday after the company reported a manifold jump in consolidated net profit for the quarter ended March 2021.

The stock jumped 3.67 per cent to Rs 283.75 on the BSE.

At the NSE, it gained 3.76 per cent to Rs 283.95.

Mazagon Dock Shipbuilders on Thursday reported a manifold jump in consolidated net profit to Rs 230.54 crore for the quarter ended March 2021.

The company had reported a profit of Rs 41.55 crore in the corresponding period previous fiscal.

Its revenue from operations grew by 6 per cent in the quarter under review to Rs 1,105.11 crore, from Rs 1,043 crore in the year-ago period.

The total income of the company was Rs 1,378 crore in the fourth quarter, as against Rs 1,176.24 crore a year ago.

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