Net profit of Mazagon Dock Shipbuilders rose 64.57% to Rs 354.16 crore in the quarter ended December 2022 as against Rs 215.20 crore during the previous quarter ended December 2021. Sales rose 16.97% to Rs 1815.91 crore in the quarter ended December 2022 as against Rs 1552.50 crore during the previous quarter ended December 2021.

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EBITDA rose by 46% to Rs 472 crore in the third quarter from Rs 323 crore recorded in the same period last year.

Profit before tax in Q3 FY23 stood at Rs 452 crore, up by 49% from Rs 304 crore in Q3 FY22.

The company said that it has delivered second P15B-Vishakhapatnam Class Guided Missile Destroyer namely 'MORMUGAO' on 24th November 2022 and it was commissioned on 18 December 2022.

It has also delivered fifth Scorpene submarine of Project -75 i.e. 'VAGIR' on 20% December 2022 and it was commissioned on 23rd January 2023.

Mazagon Dock Shipbuilders is one of India's leading defence public sector undertaking shipyard under the Ministry of Defence. Its main activities are construction of warships and submarines.

The scrip zoomed 5.54% to end at Rs 761.30 on the BSE today.

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Mazagon Dock Shipbuilders will hold a meeting of the Board of Directors of the Company on 30 January 2023.

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Mazagon Dock Shipbuilders (MDL) announced the delivery of the fifth Scorpene Submarine 'Vagir' of Project P-75 on 20 December 2022 to the Indian Navy.

Vagir was launched on 12 November 2020 and has undergone a very comprehensive and rigorous set of tests and trials, for more than a year, to ensure delivery of a fully combat worthy submarine, capable of operation in all modes and regimes off deployment, the company said in a statement.

Vagir can undertake multifarious types of missions i.e. anti-surface, anti-submarine, intelligence gathering, mine laying, area surveillance, etc. It is designed to operate in all theatres of operation, showcasing interoperability with other components of a Naval Task Force. It is another potent platform, making a transformational shift in submarine operations.

The sixth Scorpene submarine - Vaghsheer was launched on 20 April 2022 and is getting readied for trials. The Scorpene project would not have achieved the current progress without the unconditional support, course correction and active encouragement of the Department of Defence Production (DDP) MOD and Indian Navy throughout its various phases of construction.

Further, MDL has commenced design and construction of a Midget submarine. It has also undertaken and completed an extensive modernization programme for its infrastructure and facilities to meet the increasing demand of Nation's Maritime needs.

MDL is currently capable to build 10 capital warships and 11 submarines simultaneously.

MDL is one of India's leading defence public sector undertaking shipyard under the Ministry of Defence. Its main activities are construction of warships and submarines.

On a consolidated basis, MDL's net profit surged 121.24% to Rs 224.78 crore on 83.68% increase in net sales to Rs 2230.32 crore in Q1 June 2022 over Q1 June 2021.

Shares of MDL rose 0.36% to Rs 881.90 on the BSE.

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