Mumbai-based
Mazagon Dock Shipbuilders was trading broadly on a bullish note on Friday after the company recorded growth in both top-
line and bottom-line front for the quarter ended September 2020 (Q2FY21).
At around 3.26 pm, Mazagon Dock Shipbuilders was trading at Rs183.20 per piece surging by 4.27%. The index has jumped to the day's high of Rs184.50 per piece.
In Q2FY21, the company consolidated net profit excluding associate, stood at Rs81.33cr from Rs76.52cr a year ago same period. Including profit of associate, then the Dock's profit comes at Rs99.38cr in Q2FY21 versus Rs103.29cr in Q2FY20.
Consolidated revenue from operations was at Rs1,099.55cr in the quarter under review against Rs951.12cr last year similar quarter.
Additionally, the company announced that two submarines of the ongoing Project-75 programme at MDL, Kalvari and Khanderi, have ~ been commissioned into the Indian Navy.
Mazgaon Dock in its regulatory filing on Thursday said, "Two submarines of the ongoing Project-75 programme at MDL, Kalvari and Khanderi, have ~ been commissioned into the Indian Navy. The third submarine, of the above project, is in the last phase of rigorous sea trials. The fourth submarine has commenced her sea trials, whilst the sixth and last submarine, is being readied for boot together. The P-75 submarine project would not have achieved the current progress without the unconditional support, course correction and active encouragement of the Department of Defence Production (MoD) and Indian Navy throughout its various phases of construction."
Further, the company added, "MDL’s contribution to national maritime security and nation-building continues with the currently ongoing construction of 04 in no. P-15B Destroyers and 04 in no. P-17A Frigates."