By Malvika Gurung
Investing.com -- Shares of the state-owned shipbuilding company Mazagon Dock Shipbuilders (NS: MAZG ) zoomed almost 10% on Thursday, ending the session 4.2% higher at Rs 295 apiece.
The stock surged in response to robust results posted by the company for the June 2022 quarter, witnessing a record topline performance despite input costs shooting over 100% in the period on a YoY basis.
Mazagon Dock Shipbuilders is a leading Defence public sector undertaking shipyard in the county, manufacturing warships and submarines for the Indian Navy and offshore platforms, among others.
The company’s consolidated net profit rallied 121.2% YoY to Rs 224.8 crore in the June quarter, as its revenue from operations jumped 83.7% YoY to Rs 2,230.3 in the period.
Sequentially, the two figures surged 41.4% and 59.7%, respectively in the June quarter. It was the best ever quarterly performance by the company.
The defence company’s EBITDA in the quarter under focus jumped 96% YoY to Rs 310 crore and operating profit skyrocketed 201% YoY to Rs 154 crore even as the total expenses rose 77.6% YoY to Rs 2056.6 crore, with the cost of raw material consumed rallying 122.3% YoY to Rs 1,335 crore and employee expenses advancing 1.9% YoY to Rs 181.8 crore in the quarter.
In the past 5 days, the mid-cap PSU scrip has climbed over 12%.
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This stock is worth accumulating inthe range of 250-300Like 0