Mazagon Dock spurts after Q1 PAT soars 121% YoY to Rs 225 cr

Mazagon Dock Shipbuilders jumped 7.49% to Rs 304.15 after the company's consolidated net profit surged 121.24% to Rs 224.78 crore on 83.68% increase in net sales to Rs 2230.32 crore in Q1 June 2022 over Q1 June 2021.

The company's PAT rose 41.36% and net sales increased 59.72% in Q1 June 2022 over Q4 March 2022.

Profit before exceptional items and tax (PBT) stood at Rs 289.97 crore in Q1 June 2022, up 59.32% quarter-on-quarter and up 108% year-on-year. EBITDA stood at Rs 310 crore grew by 96% over the same quarter last year.

Total expense climbed 77.6% YoY to Rs 2056.64 crore in Q1 FY23. Cost of raw material consumed stood at Rs 1334.97 crore (up 122.3% YoY) and employee expenses stood at Rs 181.75 crore (up 1.9% YoY).

Mazagon Dock Shipbuilders is one of India's leading defence public sector undertaking shipyard under the Ministry of Defence. Its main activities are construction of warships and submarines.

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