Mazagon Dock Shipbuilders shares rise 5% after stellar Q4 performance

Mazagon Dock Shipbuilders, the Indian defence PSU firm, witnessed a 5% rise in shares after its Q4FY23 net profit more than doubled to INR326 crore from INR159 crore in the previous year’s corresponding quarter. The company’s Q4FY23 revenue from operations surged by 49% YoY to INR2,078.6 crore, and its earnings before interest, tax, depreciation and amortisation nearly tripled to INR211 crore YoY. The board of directors recommended an extra dividend of INR6.86 per equity share, in addition to an interim dividend of INR9.10 per equity share paid for the year.