Hot Pursuit     01-Jul-23
Mazagon Dock Shipbuilders inks contract for MRLC of INS Shankush
Mazagon Dock Shipbuilders announced that it has signed a contract worth Rs 2724.63 crore with the Indian Navy for medium refit cum life certification (MRLC) of second Shishumar class submarine INS Shankush.

The announcement was made after market hours on Friday, June 30.

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 119.4% to Rs 318 crore in Q4 FY23 as against Rs 144.92 crore posted in Q4 FY22. Revenue from operations jumped 48.9% year on year to Rs 2,078.59 crore in Q4 FY23 over Q4 FY22.

The scrip gained 0.48% to end at Rs 1246.85 on the BSE yesterday.

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