Shares of Mazagon Dock Shipbuilders Ltd soared 3% on Wednesday, 6 November, after the company announced its quarterly earnings for July-September. 

The company’s net profit for the quarter grew by 76% year-on-year (YoY) to Rs 585 crore for the quarter, and the revenue grew by 51% YoY to Rs 2,757 crore for the quarter under review. 

On the operating front, the earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at Rs 510 crore, which is a significant increase from Rs 176 crore in Q2FY24. 

Moreover, the company has also declared an interim dividend of Rs 23.19 per share and has set 30 October as the record date for the dividend. Earlier this year, the company declared a final dividend of Rs 12.11 per share for the fiscal year 2024.

The company has also announced its first-ever stock split of 1:2, and the record date for the proposed split will be decided after obtaining approval from the shareholders.  

As of 30 September 2024, the government of India owns an 84.83% stake in the company. 

At 1:13 pm, the shares of Mazagon Dock were trading 1.88% higher at Rs 4,276.70 on NSE.

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