Mazagon Dock rises after Q4 PAT spurts 247% YoY

Mazagon Dock Shipbuilders rose 2.68% to Rs 273.50 after the company's consolidated net profit jumped 247% to Rs 259.14 crore on 5.92% rise in revenue from operations to Rs 1,105.11 crore in Q4 March 2021 over Q4 March 2020.

Profit before tax soared 317.99% to Rs 296.65 crore in Q4 FY21 as against Rs 70.97 crore in Q4 FY20. The Q4 earnings was declared during trading hours today, 10 June 2021.

During the financial year, Mazagon Dock Shipbuilders' consolidated net profit climbed 9.09% to Rs 513.89 crore on 17.65% decline in revenue from operations to Rs 4,049.69 crore in FY 2021 over FY 2020.

Meanwhile, the board has recommended a final dividend of Rs 1.83 per equity share for FY 2020-21.

Mazagon Dock Shipbuilders is one of India's leading defence public sector undertaking shipyard under the Ministry of Defence. Main activities are construction of warships and submarines with facilities situated at Mumbai and Nhava (under development). It has the capability to build warships, submarines, merchant ships upto 40,000 DWT since 1979.

As of 31 March 2021, the Government of India held 84.83% stake held in Mazagon Dock Shipbuilders.

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