Shares of State-run defence company Mazagon Dock Shipbuilders Ltd. reported its September quarter results on Tuesday, November 5, which saw a sharp increase year-on-year, across all parameters.
Net profit for the quarter increased by 76% year-on-year to ₹585 crore, while revenue grew by 51% from the year-ago period to ₹2,757 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter increased to ₹510 crore, from ₹176 crore during the same period last year.
EBITDA margin for the quarter more than doubled on a year-on-year basis to 18.5% from 9.6% in the September quarter last year.
On October 22, Mazagon Dock Shipbuilders had announced a 1:2 stock split, where one share of ₹10 will be split into two shares of ₹5 each.
Additionally, the company has also declared an interim dividend of ₹23.19 per equity share. Record date for the interim dividend has been fixed as October 30, 2024. The company had declared a final dividend of ₹12.11 per share for the financial year 2024 earlier this year.
Record date for the stock split will be announced after the company receives shareholder approval for the same through a postal ballot.
This is the first time in the company’s history that it had announced a stock split.
Mazagon Dock Shipbuilders shares saw a sharp surge post the results announcement and are currently trading 5.3% higher at ₹4,239. The stock has still corrected 28% from its peak of ₹5,860 in July.
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