Mazagon Dock January-March Profit Halves on Higher Expenses

Mazagon Dock Shipbuilders Ltd. reported a 51% year-on-year drop in January–March quarter consolidated net profit to ₹3.25 billion, impacted by a steep rise in costs. Sub-contract expenses rose over 800%, and project-related expenses jumped more than 300%.

 

Revenue rose 2.3% year-on-year to ₹31.74 billion, marking the seventh straight quarter of growth.

 

For 2024–25, net profit climbed to ₹24.14 billion from ₹19.37 billion, and revenue rose to ₹114.32 billion from ₹94.67 billion.

 

Total quarterly expenditure rose 20% year-on-year and 32% sequentially to ₹31.14 billion. While material costs dropped 37% to ₹10.83 billion, sub-contract costs rose to ₹5.89 billion, and provisions jumped nearly 460% to ₹5.1 billion. Tax outgo fell 64% to ₹794 million.

 

A final dividend of ₹2.71 per share was declared for 2024–25.