Shares of Mazagon Dock settled 0.50% higher at ₹2,158 apiece on NSE. The company’s consolidated net profit surged 76.97% to ₹354.16 crore in the December quarter. Its revenue from operations stood at ₹2,362.47 crore, registering a healthy 30.1% year-on-year growth
State-owned Mazagon Dock Shipbuilders Ltd expects a positive growth momentum going ahead after a healthy rise in net profit and revenue in the December quarter (Q3FY24). The company continues to maintain revenue guidance at 12-15% for FY24, according to Sanjeev Singhal, Chairman & Managing Director of Mazagon Dock Shipbuilders.
We continue to maintain that the growth for the current year would be around 12 to 15%. So, 15% is slightly on the higher side which we are targeting. Going ahead for FY 2025, definitely, there would be growth. Putting the numbers right now would be slightly difficult but what we can say is that there has been a healthy addition to the orderbook,” Singhal said in an exclusive interview with CNBC-TV18.
The company’s consolidated net profit surged 76.97% to ₹354.16 crore in the December quarter. Its revenue from operations stood at ₹2,362.47 crore, registering a healthy 30.1% year-on-year growth. On a nine-month basis, Mazagon Dock Shipbuilders’ revenue increased to ₹ 6,362.9 crore YoY.