Saturday, May 21, 2022

Mazagon Dock hands over an interim dividend of Rs 121.47 crore to the Govt

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New Delhi: The Defence PSU Mazagaon Dock Shipbuilders (MDL) handed over a dividend cheque of Rs 121.47 crore to the Government of India on Friday.

In an event in New Delhi, the CMD of the company Vice Admiral Narayan Prasad (Retd) gave the cheque to the Union Defence Minister Rajnath Singh. Defence Secretary Dr Ajay Kumar and Addition Secretary (Defence Production) Sanjay Jaju were also present on the occasion.

Mazagon Dock had declared an interim dividend at 71 per cent (or Rs 7.10 a share) aggregating to Rs 143.20 crore to be paid out of the profits of the company for FY 2021-22.

The defence public sector undertaking under the Ministry of Defence undertakes the construction of warships and submarines with facilities situated at Mumbai and Nhava (under development). It has the capability to build warships, submarines, merchant ships up-to 40,000 DWT since 1979.

As of 30 September 2021, the Government of India held 84.83 percent stake held in Mazagon Dock Shipbuilders.

The company reported 52 percent rise in consolidated net profit to Rs 215.20 crore on a 6 per cent increase in revenue from operations to Rs 1,552.50 crore in Q3 FY22 over Q3 FY21.

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