Sunday, June 26, 2022

Q4FY’21: Mazagon Dock Shipbuilders share rise amidst massive jump in net profit

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Mumbai: Defence PSU 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 shipbuilder defence PSU had reported a profit of Rs 41.55 crore in the corresponding period of the previous fiscal. MDL shares closed on Thursday at Rs 273.20 which was close to 3 percent higher.

The company's revenue from operations grew by 6 percent 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 state-owned shipbuilder was Rs 1,378 crore in the fourth quarter, as against Rs 1,176.24 crore a year ago.

The total expenses stood at Rs 1,081.48 crore compared to Rs 1,092.95 crore in the same period previous fiscal.

The PSU shipbuilder is primarily engaged in the construction and repair of warships and submarines for use by the Indian Navy and other vessels for commercial clients.

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Mazagon Dock Shipbuilders Limited (MDL)

Mazagon Dock Shipbuilders Limited (MDL), aptly called “Ship Builder to the Nation”, is one of India’s leading Defence PSU shipyard under the Ministry of Defence. The main activities of the company are 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 (Ac to the MDL's website) since 1979. For outfitting work, the company has a large number of workshops with sophisticated equipment and machines specific to hull fabrication and ship construction work.

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