Earnings Review
Mazagon Dock Jan-Mar consol PAT dn 51% YoY as expenses rise
This story was originally published at 21:18 IST on 29 May 2025
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-- Mazagon Dock Jan-Mar consol PAT INR 3.25 bln vs INR 6.63 bln year ago
-- Mazagon Dock Jan-Mar consol revenue INR 31.74 bln vs INR 31.04 bln year ago
-- Mazagon Dock to pay INR 2.71 per share final dividend for FY25
-- Mazagon Dock FY25 consol net profit INR 24.14 bln vs INR 19.37 bln yr ago
-- Mazagon Dock FY25 consol revenue INR 114.32 bln vs INR 94.67 bln year ago
By Pallavi Singhal
NEW DELHI – Mazagon Dock Shipbuilders Ltd. reported a whopping 51% on-year fall in its consolidated net profit for the March quarter due to higher expenses. Sub-contract costs rose by over 800%, while project-related expenses saw an over-300% rise, according to the company's earnings filing. Other expenses were up 50% and employee benefit expenses rose 30% on year, the filing showed. Mazagon Dock Shipbuilders' consolidated net profit in Jan-Mar was INR 3.25 billion, down 51% on year, and 62% sequentially.
Meanwhile, consolidated revenue from operations remained steady, noting only a marginal rise at INR 31.74 billion, up 2.28% on year and 1% sequentially. The company has been seeing a rise in its revenue for seven quarters in a row.
The company's consolidated net profit in Apr-Mar was INR 24.14 billion compared to INR 19.37 billion in the same period last year. Consolidated revenue in the financial year of 2024-25 (Apr-Mar) was INR 114.32 billion, up from INR 94.67 billion in the year-ago period.
The total expenses of the company in the March quarter were INR 31.14 billion, up 20% on year and 32% sequentially. While cost of materials consumed fell 37% on year, to INR 10.83 billion, sub-contract expenses rose more than 800% on year, to INR 5.89 billion. Project-related expenses were up over 300% on year to INR 1.83 billion. Mazagon Dock Shipbuilders' other expenses rose 50% on year to INR 821.8 million in the March quarter.
The shipbuilding company's provisions in the March quarter were INR 5.1 billion, up almost 460% on year. In the December quarter, the company's provisions were INR 1.78 billion. The tax outgo in the March quarter was INR 794 million, down 64% on year.
The company will pay a final dividend of INR 2.71 per share for FY25.
Shares of Mazagon Dock Shipbuilders hit their 52-week high intraday Thursday ahead of the company's March quarter results, and closed 2.38% higher at INR 3,751.20 on the National Stock Exchange. End
Edited by Deepshikha Bhardwaj
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