The contract involves construction and delivery of one training ship for the Indian Coast Guard (ICG).

The announcement was made after market hours yesterday.

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 company's standalone net profit surged 32.07% to Rs 286.62 crore in Q1 FY24 as against Rs 217.02 crore posted in Q1 FY23. Revenue from operations jumped 32.26% year on year (YoY) to Rs 2,172.76 crore in the quarter ended 30 June 2023.

The scrip rose 0.71% to currently trade at Rs 2,170.05 on the BSE.