Total expenditure during the quarter increased by 13.5% year-on-year (YoY) to Rs 1053.45 crore. The company recorded an exceptional expense of Rs 26.47 crore in Q2 September 2020.

Profit before tax (after exceptional items) stood at Rs 133.35 crore in Q2 FY21, down by 13.9% from Rs 154.92 crore in Q2 FY20. Current tax outgo in the second quarter increased to Rs 32.10 crore from Rs 13.44 crore in the same period last year.

Separately, the company announced that the launching ceremony of fifth Scorpene submarine of Project-75 was conducted on 12 November 2020 at Mazagon Dock (MDL). "Two submarines of the ongoing Project-75 programme at MDL, Kalvari and Khanderi, have been commissioned into the Indian Navy. The third submarine, of the above project, is in the last phase of rigorous sea trials. The fourth submarine, has commenced her sea trials, whilst the sixth and last submarine, is being readied for boot together," the company said in a BSE filing made after market hours yesterday.

Mazagon Dock Shipbuilders, a public sector undertaking under the Ministry of Defence (MoD), is engaged in the construction and repair of warships and submarines for use by the Indian Navy and other vessels for commercial clients. The company was conferred with the 'Mini-ratna-I' status in 2006 by the Department of Public Enterprises.

Shares of Mazagon Dock Shipbuilders were listed on the stock exchanges on 12 October 2020. The stock was listed at Rs 216.25, at a premium of 49.14% to the initial public offer (IPO) price of Rs 145. It lost 20% to close at Rs 173 on its listing day.

The IPO of Mazagon Dock was subscribed 157.41 times. The issue opened for bidding on 29 September 2020 and closed on 1 October 2020. The price band for the IPO was set at Rs 135-145 per share.