Mazagon Dock Q1 Results: Profit Plummets 35%, Misses Estimates

Mazagon Dock Shipbuilders Ltd. reported a 35% decrease in net profit in the quarter ended June.

The company reported a consolidated bottom line of Rs 452 crore in the first quarter of the current financial year, compared to Rs 696 crore in the year-ago period, according to an exchange filing on Monday. Analysts tracked by Bloomberg had a consensus estimate of Rs 695 crore.

• Revenue up 11.4% to Rs 2,625.59 crore versus Rs 2,357 crore (Bloomberg estimate: Rs 2,828 crore).

• Ebitda down 53% to Rs 302 crore versus Rs 642 crore (Estimate: Rs 616 crore).

• Margin narrows to 11.5% versus 27.2% (Estimate: 21.8%).

• Net profit down 35% to Rs 452 crore versus Rs 696 crore (Estimate: Rs 695 crore).

Shares of Mazagon Dock closed 3.35% lower at Rs 2,886.6 apiece on the National Stock Exchange before the announcement, compared to a 0.63% decline in the benchmark Nifty. The share price has risen 25.23 % in the last 12 months and 14.85% on a year-to-date basis.