Mazagon Dock Shipbuilders Ltd.'s net profit surged 30% in the third quarter of financial year 2024-2025, thereby beating analysts' estimates.
The state-run firm posted a consolidated bottom line of Rs 768 crore in the quarter ended Dec. 31, 2024, as compared to Rs 591 crore in the same period last year, according to an exchange filing on Friday. This compares to the consensus estimate of Rs 706 crore of analysts tracked by Bloomberg.
The company recorded a top line of Rs 3,144 crore, marking a 33.1% growth for the quarter under review as against Rs 2,362 crore in the year-ago period.
The warship and submarine maker's earnings before interest, tax, depreciation and amortisation soared 51.5% to Rs 817 crore in the October-December quarter from Rs 539 crore in the corresponding quarter of the past fiscal. The margins expanded to 26% from 22.8%.
Mazagon Dock Shipbuilders Q3 Results (Consolidated, YoY)
Net profit up 30% at Rs 768 crore versus Rs 591 crore (Estimate: Rs 706 crore).
Revenue up 33.1% at Rs 3,144 crore versus Rs 2,362 crore (Estimate: Rs 3,095 crore).
Ebitda up 51.5% at Rs 817 crore versus Rs 539 crore (Estimate: Rs 643 crore).
Margin at 26% versus 22.8% (Estimate: 20.8%)
After the quarterly results were declared, shares of Mazagon Dock Shipbuilders closed 1.52% higher at Rs 2,232 apiece on the NSE, compared to a 0.18% fall in the benchmark Nifty 50. The stock has risen by 107.1% in the last 12 months.
Out of five analysts tracking the company, two maintain a 'buy' rating on the stock, two recommend 'hold' and one suggests 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 23%.
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